Kazakhstan’s president announces changes to powerful wealth fund


Kazakhstan’s president has made significant changes to the country’s sovereign wealth fund, dismissing large numbers of staff, changing its structure and proposing privatising some of its assets. Kassym-Jomart Tokayev acted after days of violent unrest across the country, which the government suppressed with the aid of Russian troops. 

One analyst tells Central Banking he estimates that the fund comprised about 40% of GDP and employs 5–6% of the workforce.

In 2019, Tokayev succeeded Nursultan

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