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Kazakh Senate OKs new central bank chairman

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Kazakh Senate OKs new central bank chairman

Former Kazakh Deputy Prime Minister Erbolat Dossaev is set to become the country's central bank's chairman after the Senate voted in support of his candidacy, Reuters reported.

Kazakh President Nursultan Nazarbayev earlier accepted Daniyar Akishev's resignation as chairman of National Bank of the Republic of Kazakhstan. The news outlet noted that the change comes after the president ordered the bank to focus on promoting economic growth rather than on controlling liquidity and curbing inflation. The outgoing chairman was a hawk on inflation.

Dossaev has held various ministerial portfolios including finance and has overseen state-owned financial institutions, according to the report.

The president has ordered the central bank to achieve economic growth of 5% in 2019, up from an estimated 4.1% in 2018, Reuters reported.