Iskender Sharsheyev

22 July 2025 Late on July 20th, the President of Mongolia, Ukhnaagiin Khürelsükh, touched down in Bishkek as part of a two-day state visit to Kyrgyzstan. It forms part of Khürelsükh’s wider Central Asian tour, with the President set to fly to Dushanbe following his sojourn in the Kyrgyz capital. The trip builds on Kyrgyz President Sadyr Japarov’s 2023 visit to Ulaanbaatar, where he oversaw the opening of Kyrgyzstan’s first embassy in Mongolia and toured the Genghis Khan Museum in the capital. A warm greeting Khürelsükh was welcomed by Japarov on the red carpet at Manas International Airport, where traditional dances, music, and even a ceremonial eagle were laid on. The pair greeted each other like old friends before the motorcade swept along the empty roads towards the city. Like Japarov, Khürelsükh has been president since 2021, although, unlike his Kyrgyz counterpart, his role is largely ceremonial. Indeed, current Mongolian politics offers a hint of nostalgia to those in ...

Friday, July 18, 2025 | 16:35 Housing is becoming more expensive and less affordable. Real estate prices in Kyrgyzstan are rising, partly due to foreign demand. For this reason, MP Dastan Bekeshev proposed increasing property taxes for foreigners. “Lately, I’ve been receiving more and more appeals from citizens concerned about the active buying of apartments in Kyrgyzstan, especially by Chinese nationals. People fear that at this rate, Kyrgyz citizens themselves will no longer be able to afford housing. We could ban foreigners from buying, but we’d lose investment and damage the economy. Leaving everything as it is will lead to future conflicts. A permit-based system would only bring bureaucracy and corruption. That’s why I propose a sensible compromise — higher property taxes for foreigners. This way, we’ll boost the local budget, cool the overheated housing market, and protect the interests of Kyrgyz citizens,” said Bekeshev. “Similar restrictions are applied worldwide. Ho...

14:00, July 10, 2025, Bishkek – 24.kg, Nargiza TOKOEVA Recently, global gold prices have been rising at an unusually rapid pace, repeatedly hitting record highs. The market has now somewhat stabilized. The surge in demand for the precious metal has been driven by several powerful factors: Aggressive purchases by central banks (especially BRICS countries) aiming to reduce dependence on the US dollar; Global geopolitical and trade tensions (tariff wars, sanctions, and regional conflicts); Weakening of the US dollar. All of these factors have made gold more attractive as a safe-haven asset. According to the London market, the most recent record was set on April 22, 2025, when the price of one troy ounce reached $3,434 on the London exchange. However, Kyrgyzstan recorded its highest local gold price on June 16, 2025. On April 23 — the day global gold prices hit a historical high — the National Bank of Kyrgyzstan set the price at 305,507.5 soms per ounce. But on June 16, the ...

Tuesday, July 8, 2025, 19:02 "There Must Be Rules for Fair Competition" Illegally privatized resorts are returning to state ownership. For example, the "Columbus" resort and a 2.3-hectare plot at Issyk-Kul have been returned. The "Geolog" resort and the "Orlyonok" camp on a 12.81-hectare plot, along with other properties, are also now under state management. Will this legal justice affect the tourism market and the country's investment appeal? Economist Iskender Sharsheev commented to Vesti.kg: "Everything depends on the circumstances accompanying this process. Around the world, restoring order is normal practice. If there are grounds, properties are returned to the state. Some had gained advantages in the past due to contacts or personal connections. This creates an imbalanced system and raises doubts about fair competition. There must be equal market rules. When these rules are followed, trust in the market increases—including...

July 8, 2025 | 18:16 Baku, July 8, Tamilla Mamedova, AZERTAC AZERTAC presents an interview with Kyrgyz expert Iskender Sharsheev, head of the Electric Transport Users Union "ElTrans," founder of Sharsheev & Partners, co-founder of the PEAK Foundation, economist and political scientist. Tamilla: How do you assess the current state of economic relations between Kyrgyzstan and Azerbaijan? Which areas of cooperation seem most promising to you today? Iskender: The trade and investment dynamics between Kyrgyzstan and Azerbaijan have shown a noticeable "reset" in recent years. In 2022, the trade turnover was a symbolic $10 million, but by 2023 it had reached approximately $65 million, increasing more than sixfold. Notably, in just January–February 2024, Azerbaijan supplied petroleum products worth nearly $18.2 million to the Kyrgyz market, making Kyrgyzstan one of Baku's top five hydrocarbon export destinations. This growth became possible largely thank...

June 27, 2025, 16:24 The number of international Visa payment system cards is rapidly increasing in Kyrgyzstan. According to the National Bank, in just the first quarter of 2025, the number of Visa cards grew by a record 558,800, reaching 5.93 million. This is a 56.8% increase compared to the same period last year. As a result, Visa’s market share among bank cards rose from 50.6% to 60.4%, making it the undisputed leader among the country’s payment systems. Economist Iskender Sharsheev attributes this growth not only to the development of a cashless economy but also to a decline in trust in the stability of certain banking services. According to him, more and more citizens are obtaining multiple cards — including virtual ones — to ensure access to their finances even in the event of technical failures. "Nowadays, many Kyrgyz citizens are getting two, three, or even up to six Visa cards from different banks. This is a response to frequent disruptions in popular banking ap...