KAZAKHSTAN – The world’s second largest economy is in a crisis.
There is no real growth in the economy.
And the inflation rate has climbed to 2.5% from 1% last year.
But it is all about the big money.
The government of Kazakhstan has been running an opaque cash-for-gold scheme.
Kazakhs central bank is making $300 million a month from the sale of gold coins.
It is doing this with an interest rate of 1.5%, making it one of the highest rates in the world.
Inevitably, people are jumping ship and moving to Russia or Kazakhstan, which has the second-highest interest rate in the region.
When the Kazakh central bank first launched the scheme, the world was shocked by what happened.
They told the world the gold was worthless, it was worthless because the gold wasn’t real.
“I think that people who have a problem with the price, they have a lot of trouble with the money,” said Olga Khakhtykh, a professor of economics at the University of California, Irvine.
Now, they are jumping to the Russian or Kazakh government.
In December, the International Monetary Fund declared Kazakhstan the country with the worst economic outlook in the Asia-Pacific region.
The IMF said the country had a 25% unemployment rate, which is one of its highest rates.
More recently, the government of President Nursultan Nazarbayev has launched a campaign to lure foreigners to his country.
He wants to lure them to Kazakhstan with the promise of a job, a better standard of living and a chance to live and work in the country they will be spending a lifetime.
His government has said it wants to build a vibrant, high-tech economy.
The central bank has been making $2 billion a month on the gold sales.
The government says the money is being used to build roads, schools and hospitals, build hospitals, schools, hospitals, and the construction of more housing units and a new railway.
Many people in the central bank are worried about their futures.
“I don’t know if I can make it to the country,” said one of them, a woman who asked that her name not be used.
She said she is worried about her family and her savings.
Her husband works in the construction industry and has a son who is studying engineering.
Most of the money for the gold purchases has gone to pay the salaries of the government employees who are the primary earners in the mining and construction sectors.
Foreigners are paying about $200 a month for a gold bar, and $600 a month to miners who make up the vast majority of the workforce in Kazakhstan.
One of the biggest foreign investors in the Kazakh economy, the British Petroleum, is paying $1 billion a year for the rights to use the country as a refinery.
While most Kazakhs have a hard time seeing the gold, the mining industry is thriving, and it’s all a part of the economy of the country.
In December 2016, Kazakhstan signed a $500 billion deal to purchase the U.S. Apache helicopter from United Technologies Corp. U.K. shares in the Apache, which were up 25% at the time, are now down more than 20%.
Some economists believe the gold deal will boost the economy by up to 6% a year, with the government also getting a big return on the money.
But some say it could be disastrous for the Kazakhs economy.
“This will not help the economy, it will only increase inflation,” said Natalia Zhukova, a researcher at the Institute of International Relations in London.
That’s because the country needs foreign investment to help it become a viable economic player.
So far, the Kazakh government has tried to lure foreign investors, promising to build factories, roads, universities, hospitals and schools.
But the country has no intention of investing in infrastructure.
“They can say it’s a good investment, but if we don’t invest, we’ll be in a big hole,” said Irina Tkachenko, a member of the Kudryavtsev Economic Council.
For now, foreign investors are stuck in the shadows.
This is a very, very poor country.
There are no roads, no bridges, no schools, no hospitals.
A few companies have opened up, but the state of the Kazakh mining industry remains poor.
All the money from the gold-forged gold sales has gone toward paying salaries for the mining employees.
Their salaries are about $3,000 a month.
Khakhtykhs family, who has lived in Kazakhstan for more than 40 years, said she doesn’t think her life is in danger.
“We are doing well,” she said.
Nina Mkhashtayeva is the host of “A