Kazakhstan - 01

Kazakhstan: National Bank Buys 10% Stake in KMG

Earlier this month the Kazakh government completed the transfer of a 10% stake in KMG from the SK Fund to the National Bank of Kazakhstan, the country’s top financial institution. The $4bn sale effectively amounts to the state reshuffling its assets from one pocket to another – and particularly, from the wholly state-owned SK Fund, which is supposed to manage troubled state assets such as KMG, to the central bank, whose primary responsibilities are setting monetary policy and maintaining financial stability.

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