Marchenko - Devaluation was the Right Decision

    Chairman of the National Bank Grigory Marchenko, at meeting of the Nur Otan People's Democratic Party parliamentary “faction” said the decision to devaluate the currency was presently the only correct one, Kazakhstan Today reports.
    "There was a lot of criticism stating the devaluation of the tenge should have been done at some other time, or gradually; but theoretically, it should have begun as early as October, when there was a sharp fall in the prices for the main import products," he said.
    "The second option was to move in parallel with the devaluation in Russia during December, so there would be no allegations a limited group of people knew of the upcoming devaluation and managed to make financial transactions while allowing people to stay in the dark. It was right to carry out the devaluation now," Mr. Marchenko said, according to Kazakhstan Today