With a ‘president for life’, poor human rights record and hydrocarbon-dependent economy, Kazakstan often appears a mirror image of its northern neighbour, Russia.
Scratch beneath the surface, and you find a post-Soviet state, which, though similar in behaviour to its Russian counterpart, is making its own path.
Temporary free fall
Over the past ten days, the business world has overwhelmingly been focused on Kazakhstan’s record 23 per cent currency plunge, which followed Astana’s decision to float the tenge. The situation recalls the fate of the rouble after the Russian Central Bank allowed it to float in November 2014.
