About this currency collapse

[DARPA]

In an effort to support the slowing economy, the basis of which is the export of oil and metals, Kazakhstan on August 20 once again, in fact, a third, devalued the tenge. And the rest of the market did after President Nursultan Nazarbayev advised to prepare for a drop of oil to $ 30. Per barrel.

At the same time against Kazakhstan does not apply any sanctions, on the contrary, he, like Belarus, removes some of the benefits of the food embargo Russia. In addition, although the Kazakh economy is less diversified than Russia: the share of oil and gas exports reached 78% (in Russia - 65%), the share of mining in GDP - 15% (against 10%), oil revenues of the budget and the National Fund - 45% all revenues (about 30%), it is regularly praised for less oil dependence. Like the Kazakh authorities skillfully isolate expenditure budget from oil revenues, the country has implemented long-term projects, never stops, even during the decline in oil prices, and the NSC in time to stop the boom in retail lending, and managed to prevent the inflow of "hot money" from abroad.

But all of these useful - institutionally - things were powerless before the elements of the market, had only forced to open up the floodgates.