Tajikistan: government initiates formation of reserve fund for unforeseen expenses

The government of Tajikistan has initiated the formation of the reserve fund in the national budget for extraordinary expenses. The so-called “safety cushion” will be created from the resources of state-owned enterprises (SOE) with an allowance for potential risk from them. The strategy of managing fiscal risks from state-owned enterprises designed for the period until…

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Kazakhstan: banks to face solvency risks over 12-18 months

Moody’s Investors Service expects Kazakh banks to continue facing solvency risks over the next 12-18 months amid a challenging business environment, the rating agency said in its report entitled “Banks – Kazakhstan; Heightened Insolvency Risks Drive the Negative Outlook”. “Asset quality remains weak across Kazakhstan’s banking sector as the depreciated tenge, combined with challenging operating…

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