In an unexpected, unexplained flash move, Kazakhstan’s longstanding head of state Nursultan Nazarbayev on March 19 late in the day announced his decision to retire. "I have decided to end my duties as president," Nazarbayev said in a brief televised address on Tuesday without giving a reason for the decision.
"This year I will have held the highest post for 30 years. The people gave me the opportunity to be the first president of an independent Kazakhstan," he said.
In line with the country's constitution, Kassym-Jomart Toqaev, the speaker of the country's upper parliament chamber will hold presidential authority for now, Nazarbayev said.
Nazabayev said he will continue as leader of the ruling Nur Otan party and will remain as chairman of the presidential Security Council, which could allow him to retain key powers.
"Dear Kazakhstanis, compatriots, comrades. Today I appeal to you, as I always did at the most important moments in the history of our state, which we built together. But my current address is special. I made a difficult decision for myself - to resign as the President of the Republic of Kazakhstan," Nursultan Nazarbayev said. He noted that he had been ruling the country for almost 30 years. "I was honoured to become the First President of independent Kazakhstan," said the Leader of the Nation.
“As the founder of the independent Kazakh state, I see my future task in ensuring the coming to power of a new generation of leaders who will continue the ongoing reforms,” he said in what he called a “special” address that was delivered in both Kazakh and Russian languages. “The issue of succession of power in Kazakhstan is resolved in the Constitution. In case the current President relinquishes the duties, his duties are transferred to the Chairman of the Senate until the end of the current term. Then, the election of a new President is held.”
Nursultan Nazarbayev had been born in 1942, to a family living in a village near Karaganda that earned its living in the city’s thriving metallurgy industry, and grew up to become a metal engineer. This opened the doors of the Communist Party, which he entered in 1962 while still a student.
Once high up the ladder, Nazerbayev became head of the Kazakh Cabinet of Ministers in 1984. He was known for his sceptism on all too drastic reforms in the Soviet Union but loyal to Gorbatchov and in particular a supporter of holding the Union together at whatever costs. In January 1986, he fell into a row with First Secretary Dinmukhamed Kunayev, and after the latter was topped following deadly riots in December the same year, took his place.
Nursultan Nazarbayev met his first challenge as Kazakhstan's top leader with the outbreak of a strike in the mines and processing facilities in the north. After having solved the dispute with negotiations and promises for improvement (some of which were indeed kept), he consolidated his position with the proclamation, on April 24, 1990, to add to the title of First Secretary the one of President, following Gorbachov's expample in the previous year.
After the events in Moscow, Nazarbayev took the opportunity, on December 16 the same year, to ask the Supreme Soviet of what was still called the Socialist Soviet Republic of Kazakhstan, to declare full independence and proclaim the establishment of the sovereign Republic of Kazakhstan with himself as provisional head of state.
In the country's first presidential election, held on 1 December, he appeared alone on the ballot and won 91.5% of the vote. An April 1995 referendum extended Nazarbayev's term until 2000. He was re-elected in January 1999 and again in December 2005 by an overwhelming majority of 91.15%. Two more elections followed in 2010 and 2015 with similar results.
Kazakhstan’s sovereign dollar bonds fell across the curve after President Nursultan Nazarbayev said on Tuesday he was resigning as the Central Asian nation’s leader after almost three decades in power.
The 2045 issue slipped as much as 1.2 cent to trade at 125.997 cents in the dollar, the biggest daily drop since end-November, Tradeweb data showed.
The London-listed shares of Kazakhstan's biggest bank, Halyk Bank, tumbled 5 percent on Tuesday after the country's President Nursultan Nazarbayev unexpectedly resigned after three decades in power.
Nazarbayev's second daughter Dinara and her husband Timur Kulibayev are also the controlling shareholders of Halyk bank.
By Charles van der Leeuw for Newsline.
Quotes by Al-Jazeera, Kazinform, the Astana Times, Reuters, Nasdaq.
