Tag Archives: appointments

Turkmen President sacks more senior government officials

MARCH 5 2016 (The Conway Bulletin) – Over the past few weeks Turkmen President Kurbanguly Berdymukhamedov has sacked and reprimanded several government officials accusing them of corruption and providing fake data, a shake up that may betray his frustration with slowing economic and social projects.

The latest officials to feel Mr Berdymukhamedov’s wrath were Akmyrat Mamedov, head of the country’s Statistics Committee, and Batyr Halliyev, the meteorological service. They were both sacked for “short- comings at work”.

And apparently signalling that more sackings were likely, Mr Berdymukhamedov said the government was not immune from corruption. He cited the case of former deputy PM, Baimurat Khodzhamukhamedov, who was found guilty last year of taking bribes of $1.5m.

He went on to harshly criticise the head of the State Commodity and Raw Materials Exchange, a local market for commodities.

Just days earlier, Mr Berdymukhamedov had reshuffled government officials in the National Security Service and the Border Service.

In countries as reclusive as Turkmenistan, government appointments give an insight on the political equilibrium within the country.

Mr Berdymukhamedov is known for publicly shaming officials for incompetence and strongly advocating against corruption. Opposition activists abroad, though, say that these charges are generally fabricated to crack down on dissenting or inefficient bureaucrats.

A regional economic crisis has hit government budgets across the region. Although reclusive and not given to releasing anything other than the most positive economic data, information leaking out of Turkmenistan suggests that this downturn has hit it hard too. Currency controls and a deferment of government salaries have all been muted.

The mass sackings is another signifier that all is not well at Mr Berdymukhamedov’s court.

ENDS

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(News report from Issue No. 271, published on March 11 2016)

Turkmen President sacks deputy PM

FEB. 6 2016 (The Conway Bulletin) – Turkmen President Kurbanguly Berdymukhamedov sacked deputy PM Palvan Taganov for “weakening discipline and order”. The official explanation is code for corruption allegations. Mr Taganov had served in his post for two years and also headed the official commodity exchange. According to unconfirmed reports, Mr Taganov has been arrested.

ENDS

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(News report from Issue No. 267, published on Feb. 12 2016)

 

Business comment: Wealth fund critics come out

JAN. 22 2016 (The Conway Bulletin) — At the end of December, Berik Otemurat, a senior official at Kazakhstan’s Central Bank, picked up the phone and called several newspapers to speak out against the way the sovereign wealth fund was being managed.

He was promptly sacked after his quotes started populating articles. He had said that Kazakhstan’s sovereign wealth fund to be doomed.

Mr Otemurat’s argument was that the sovereign wealth fund was risk averse and that it was pilfering away its cash on low yield investments making low returns.

Low oil prices and the economic slump would combine, he said, to wipe away the fund’s reserves in 6 to 7 years.

Timur Kulibayev, President Nursultan Nazarbayev’s son-in-law and powerful businessman, spoke out against Kazakh money managers to but he’s not in any real danger of losing his job.

He has criticised for months the behaviour of the Central Bank and, effectively, said their management of the economic crisis has been poor.

Mr Kulibayev repeated his criticism last week. His bottom line was: “The government cannot continue spending its reserves to prop up the tenge or the reserves will be extinguished in three years.”

Of course, Mr Kulibayev, the second-richest man in Kazakhstan, is in a much stronger position than Mr Otemurat, so his words will not make him a pariah of the elite. This parallel goes to show that there are only few people who can speak out against Kazakhstan’s economic policy and face no consequences.

The managers of the sovereign wealth fund have said they will change their policy this year. Let’s see if they can stop the drain.

ENDS

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(News report from Issue No. 264, published on Jan. 22 2016)

 

Kabyldin leaves KazTransOil

JAN. 12 2016 (The Conway Bulletin) — Kairgeldy Kabyldin, former CEO of KazTransOil, quit as a director of the company, completing his exit from the Kazakh oil transport company. Earlier in December 2015, Mr Kabyldin quit as CEO of KazTransOil, which is owned by Kazakhstan’s Kazmunaigas. After Mr Kabyldin’s resignation, the board named Nurtas Shmanov as the company’s new CEO. He had been a director of KazTransOil since January 2011. Mr Kabyldin, 63, has worked almost his entire career in Kazakhstan’s oil and gas industry. Analysts expect him to be re-appointed to another role shortly.

ENDS

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(News report from Issue No. 263, published on  Jan. 15 2016)

 

Fund chief leaves in Kazakhstan

JAN. 13 2016 (The Conway Bulletin) – Berik Otemurat left the Kazakh National Investment Corporation, the unit within the Central Bank that invests money from the Oil Fund, after he gave a series of interviews to major Western publications criticising its strategy. It’s unclear if Mr Otemurat was sacked or he resigned. Eszhan Birtanov, former head of the Kazakhstan Stock Exchange, was named as the new head of the National Investment Corporation.

ENDS

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(News report from Issue No. 263, published on Jan. 15 2016)

 

Georgia hunts for new CBank chief

JAN. 6 2016 (The Conway Bulletin) – Georgia’s President Giorgi Margvelashvili has started searching for a successor to Giorgi Kadagidze who will complete his 7-year term as head of the Central Bank in February. Mr Margvelashvili’s nominee will have to be voted in by the Parliament before he or she can assume office.

ENDS

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(News report from Issue No. 262, published on Jan. 8 2016)

 

Azerbaijan shakes up security

DEC. 14 2015 (The Conway Bulletin) – Azerbaijan’s President Ilham Aliyev signed a decree to create two new security agencies, the State Security Service and the Foreign Intelligence Service, and disband the National Security Ministry. Earlier this year, Mr Aliyev sacked Eldar Mahmudov as national security minister. The next day police arrested several ministry officials.

ENDS

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(News report from Issue No. 261, published on Dec. 20 2015)

 

Kazakh TransGas names new CEO

DEC. 11 2015 (The Conway Bulletin) – KazTransGas, Kazakhstan’s gas distributor, named Rustam Suleymanov as its new CEO. Mr Suleymanov has worked at KazTransGas for 15 years. Former CEO Kairat Sharipbayev was named chairman of the board.

ENDS

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(News report from Issue No. 261, published on Dec. 20 2015)

 

Azerbaijani President fires communications minister

NOV. 12 2015 (The Conway Bulletin) – Azerbaijan’s President Ilham Aliyev fired his long-serving communications minister Ali Abbasov, the second sacking of a government minister in two months.

Mr Aliyev has generally preferred to keep people in key positions for years, so the sackings have created an unusual sense of instability around the Azerbaijani government.

Mr Abbasov had been communications minister for over 11 years.

The presidential press service announced the sacking through an online statement. No reason was given for the sacking although shortly afterwards police arrested 10 senior officials in the communications ministry and charged them with corruption.

The pattern is similar to the sacking last month of national security minister Eldar Mahmudov. He had also been in the job since 2004. Similarly, after Mr Mahmudov was sacked, police arrested several senior officials in the national security ministry for corruption.

Azerbaijan is routinely criticised for its corruption levels but it is unusual for the state to purge its own ranks for alleged graft and even more unusual for an internal investigation to trigger ministerial sackings.

ENDS

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(News report from Issue No. 256, published on Nov. 13 2015)

 

 

Kazakh president sacks Central Bank chief

NOV. 2 2015 (The Conway Bulletin) – Kazakh President Nursultan Nazarbayev sacked Kairat Kelimbetov as head of the Central Bank, two years after he was handed the job.

He promoted 39-year-old Daniyar Akishev, a former deputy head of the Central Bank and his personal economic adviser, to take over from Mr Kelimbetov.

Under Mr Kelimbetov’s watch a combination of low oil prices and a recession in Russia has battered Kazakhstan’s economy. The tenge currency has lost around half its value since Feb. 2014.

Mr Nazarbayev said that he had lost confidence in Mr Kelimbetov. “The lack of confidence in the economy and the national currency — the tenge — should not be allowed to continue,” he said in a statement on his website. “It’s important to work to fix this poor performance.”

The Kazakh Central Bank has lost credibility over the past couple of years. It has flip-flopped on monetary policy and has spent billions of US dollars propping up its currency before defaulting first in Feb. 2014 and then in August this year.

On each occasion, events have appeared to wrong-foot Mr Kelimbetov.

In 2014, he admitted at a press conference after the devaluation that he hadn’t expected it to happen. In August he said that the tenge had moved to a free float against the US dollar before presiding over several more interventions to prop up its strength.

But news that he had been sacked failed to halt the slide in the value of the tenge. By Friday, Nov. 6, it had touched an all-time low against the US dollar of 310/$1.

Inflation data for October presented Mr Nazarbayev and his advisers with more bad news. Pushed up by the devaluation in August, inflation for the year to end-October measured over 9%.

And the disorganisation surrounding the Central Bank also appeared to continue. Shortly after it released a statement saying it would no longer spend millions of US dollars propping up the tenge, the Central Bank cancelled its monthly interest rate meeting without giving a reason or setting a new date.

ENDS

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(News report from Issue No. 255, published on Nov. 6 2015)