Kazakhstan: Economic Crisis and Opportunities

The government of Kazakhstan has announced that it will use $2.1 billion to buy 78.1 percent of shares in the country's largest bank and will purchase a further 76 percent of shares in the country's fourth-largest bank for a nominal sum. The announcement comes amid an economic crisis in large part tied to problems in the Central Asian country's financial system. The crisis creates opportunities for Kazakhstan's president to expand his control over his country's economy — and for Russia to increase its influence in Kazakhstan.