Author Archives: Editor

Kazakhstan wants to raise $500m on Russian bond market

FEB. 26 2020 (The Bulletin) — Kazakhstan plans to raise $500m on the Russian bond market over the next few months, Reuters reported by quoting Kazakh finance minister Alikhan Smailov. This is the first time that Kazakhstan has gone to the Russian debt market rather than the Western debt market to raise funds. Mr Smailov said that the Russian market was less of a foreign currency risk because the tenge and the rouble tend to move together and that debt was also cheaper when compared to the West.

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Council of Europe summit move to Strasbourg from Tbilisi

FEB. 26 2020 (The Bulletin) — Georgia’s government abandoned plans to host the 130th session of the Committee of Ministers of the Council of Europe in Tbilisi on May 15 because of concerns that the attendance of Russian foreign minister Sergei Lavrov would spark potentially violent anti-Russia demonstrations. Instead, the session will be held in Strasbourg. Georgia currently holds the rotating chair of the 47-member Council of Europe and the Ministers’ Committee was supposed to be a prestige international event in Tbilisi.
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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Gulnara Karimova begs for her freedom

FEB. 26 2020 (The Bulletin) — Gulnara Karimova, the daughter of Uzbekistan’s former leader Islam Karimov and once considered to be one of the most powerful people in the country, wrote an open letter to Uzbek President Shavkat Mirziyoyev begging to be released from prison. She said that for freedom, which she said she needed on health grounds, she would drop objections to Uzbekistan’s efforts to repatriate $686m of her assets from Switzerland.
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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Construction work in Tajikistan increased by 24% in 2019

FEB. 26 2020 (The Bulletin) — In 2019, constructors in Tajikistan built 24% more buildings than they did in 2018, Tajik media reported. Tajikistan, and especially Dushanbe, is going through something of a construction boom, fueled by cheap loans from China.

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Kazakhstan and Iran sign deal to build Special Commercial Zone in Aktau

FEB. 25 2020 (The Bulletin) — Kazakhstan and Iran signed a deal to build a joint special commercial zone in Aktau that will be aimed at helping shift goods between Iran and Central Asia. Media reports said it will cost around 15m euros to build the 5 hectare site in Aktau. Relations, and trade, between Iran and Central Asia have been increasing over the past five years. Kazakhstan’s main exports to Iran are barley, wheat and rolled iron. Iran sends pistachios, dates, apples, plastics, tableware and meat processing equipment to Kazakhstan and Central Asia. 

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Former Armenian president Sargsyan goes on trial for corruption

YEREVAN/Feb. 25 2020 (The Bulletin) – A court in Yerevan started hearing the corruption trial of Serzh Sargsyan, Armenia’s president for 10 years and, until he was overthrown in a revolution in April 2018, the most powerful man in the country.

 Wearing his trademark dark suit and dark shirt, but no tie, Mr Sargsyan, 65, walked into the court to face charges of stealing 489m drams ($1m) during a government scheme in 2013 to subsidise diesel fuel. He has denied the charges and said that they are politically motivated. 

Outside the court, he had briefly addressed his supporters through a loudspeaker.

“There are still judges in Armenia for whom justice is above everything,” he said. 

He then referenced Nagorno-Karabakh, the mountainous region wedged between Azerbaijan and Armenia that is disputed between the two neighbours. A war that lasted until 1994 killed thousands of people and handed an Armenia-backed militia control of the region. 

Mr Sarsgyan, a native of Nagorno-Karabakh and a veteran of the war, referenced the dispute to undermine the credibility of Nikol Pashinyan, Armenia’s PM. Mr Pashinyan has been accused of being soft on the issue and for coming up second in a rare debate on Nagorno-Karabakh at the Munich Security Conference in February.

A row between the two men has become increasingly personal and Mr Sargsyan has said that he is being prosecuted out of personal spite from Mr Pashinyan.

Since Mr Pashinyan became PM after a revolution in 2018, overthrowing Mr Sargsyan, several senior members of former governments have gone on trial for corruption. This has included Mr Sargsyan’s predecessor as president Robert Kocharyan, and several members of his government. It was thought that Mr Sargsyan would escape charges because he had resigned, opting not to use the army to confront protesters. This appeared to change at the end of last year after he spoke out against the government.

Mr Pashinyan has countered by saying that he is honour-bound to carry through the principles of the revolution which means persecuting those suspected of corruption.

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Appeal of Uzbek human rights activist begins in Kyrgyzstan

FEB. 25 2020 (The Bulletin) — Kyrgyzstan’s Supreme Court started hearing the appeal against a life prison sentence given to Uzbek human rights defender Azimjan Askarov. He was originally arrested in 2010, in the aftermath of ethnic violence in Osh that killed 450 people, mainly Uzbeks, and was accused of stirring ethnic tension. The US has criticised the Kyrgyz government for arresting and imprisoning Askarov.
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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Uzbekistan slashes ground handling fees at airports

FEB. 25 2020 (The Bulletin) — In an effort to attract air freight companies to use its airports for refuelling stopovers between Europe and Asia, Uzbekistan’s government said that it was slashing fees for ground handling. In its memo on the fee reductions, which started on March 1, the Uzbek government also said that it was cutting the fee for arriving passengers and the costs of services in the business class lounge. The countries of Central Asia are competing to become the top host for stopovers for planes on the Europe-Asia route.

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Kazmunaigas looking at London IPO later this year

FEB. 25 2020 (The Bulletin) — The deputy CEO of Kazakhstan’s state-owned oil and gas company, Kazmunaigas, Zhakyp Marabayev, said that it would be looking to list on the London Stock Exchange in October or November. Kazakhstan has talked up the sale of shares in Kazmunaigas for years as part of its “People’s IPO” but has constantly delayed going ahead with it, often saying that market conditions were not right.

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020

Mirziyoyev promotes Western educated official to be finance minister

FEB. 25 2020 (The Bulletin) — Uzbek President Shavkat Mirziyoyev swapped up his top economic team by making former deputy Central Bank chief Timur Ishmetov finance minister and shifting Jamshid Kucharov from the finance minister to be the economy and industry minister. The 41-year-old Mr Ishmetov, who was partially educated at the University of Birmingham, represents the start of a generational shift in Uzbekistan’s bureaucracy away from ministers who were trained under the USSR to those who have studied in the West.

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— This story was first published in issue 438 of the Central Asia & South Caucasus Bulletin

— Copyright the Central Asia & South Caucasus Bulletin 2020