Iskender Sharsheyev

March 27, 2025 After months of stability, the US dollar has recently shown fluctuations and a slight decline against the Kyrgyz som. To understand the reasons for this drop, a 24.kg journalist consulted economic expert Iskender Sharsheev. National Bank’s Role and Excess Currency in the Market “The recent decline in the US dollar against the Kyrgyz som, observed over the past week, is most likely due to the actions of the National Bank of the Kyrgyz Republic (NBKR), combined with an excess of foreign currency in the domestic market,” Sharsheev explained. For Kyrgyzstan, a small and open economy, the currency market is highly sensitive to interventions by the National Bank. According to Sharsheev, the regulator’s efforts to maintain the stability of the national currency are the primary driver behind the recent decline in the dollar exchange rate. “The sustained drop in the dollar over several days suggests targeted pressure, likely exerted by the National Bank,” he emphasized. Inf...

Tuesday, March 25, 2025 | 18:19 Additional Income Expected from May 1 The National Bank of Kyrgyzstan has made a policy decision allowing commercial banks, exchange offices, and other financial institutions to charge a commission on transactions involving "white" dollars starting May 1. Economist Iskender Sharsheev provided expert commentary to Vesti.kg regarding the financial regulator’s decision, noting that this move will create additional income streams for currency exchange operations. Changing Policy on "White" Dollars “A few months ago, banks and commercial organizations in Egypt, Yemen, Dubai, and other countries abruptly stopped accepting ‘white’ dollars or accepted them at reduced rates. When similar issues arose here, the National Bank responded by affirming that ‘white’ dollars remain legal tender, equivalent to ‘green’ dollars. However, the latest resolution signals a change in the situation. Some reasons for this shift have been identified, whil...

Kazakhstan Poised to Enter Top 10 Global Leaders in Grain Processing and Supply Tuesday, March 18, 2025 | 19:41 $560 Million Investment in Three New Projects Over the Next Three Years Kazakhstan is on track to become one of the top 10 global leaders in deep grain processing and supply within the next decade. This announcement was made at the IV National Kurultai, held to implement President Kassym-Jomart Tokayev's strategic directives. Implementing Tokayev’s Vision “Kazakhstan will continue to strengthen its position in grain and flour exports by expanding its deep processing capacity. Over the next three years, three major projects worth $560 million will be launched, creating 1,500 new jobs,” stated Prime Minister Olzhas Bektenov at the kurultai. Earlier, President Tokayev tasked the government with positioning Kazakhstan as a global leader in deep processing and export of grain products. Currently, the sector’s export potential is valued at $6.1 billion, with primary proces...

12:00, March 10, 2025, Bishkek – 24.kg, Artem SUVOROV The United States has raised import duties on Chinese goods to 20 percent. In response, China announced additional tariffs on select American products. According to the Chinese Ministry of Commerce, the new tariffs of 10–15 percent will affect agricultural imports, representing a direct reaction to President Donald Trump’s trade policies. In addition, Beijing has expanded its export controls by adding 15 American companies to its restricted list. Economic expert Iskender Sharsheev spoke with 24.kg about how this trade conflict could affect Kyrgyzstan. In his view, the repercussions may be quite significant. Indirect Effects Through Global Supply Chains and Regional Dependence Sharsheev emphasizes that Kyrgyzstan’s direct trade ties with the United States are minimal, and its exports to China are limited. However, Kyrgyzstan remains exposed to indirect impacts due to its integration into global supply chains and its close econo...

Wednesday, March 12, 2025, 12:53 “Entrepreneurs have always been inspected, even during COVID-19.” The recent lifting of the moratorium on business inspections in the Kyrgyz Republic poses no significant threat to honest entrepreneurs who operate legally and transparently. This is according to economist Iskender Sharsheev, who spoke with Vesti.kg about the updated inspection conditions for businesses. “In reality, if an entrepreneur runs a legal business, pays taxes on time, and files reports properly, they have nothing to fear. The Tax Service has a special, extensively funded program that flags any violations automatically. Law-abiding businesses aren’t included on the inspection register and are rarely checked—unless they’re involved in high-risk activities like producing alcohol, chemicals, or explosives,” Sharsheev explained. Under Kyrgyz Republic laws and regulations, businesses that operate in compliance with the rules are typically inspected once every five years or even ...