EME Macro/Strategy: Kazakhstan – paused, not derailed
Following the first cases of coronavirus in March, Kazakhstan declared a month-long national state of emergency on 15 March. The country then locked down its capital, Nur-Sultan, and largest city, Almaty, starting a country-wide quarantine, with a ban on all international arrivals and departures. As the spread of the disease remains under control and limited (as of 14 April, there have been 1,232 confirmed cases, 203 recoveries and 15 deaths, with confirmed cases growth falling to single digits in the main cities), the country has decided to relax the lockdown from 20 April. Consequently, capital Nur-Sultan and main economic centre Almaty will allow manufacturing, construction, and many other sectors to operate at limited, but improved, capacity. Nonetheless, even if the country is attempting a quick restart, the economic effects of the lockdown, together with the decline in the oil price, will affect the economy severely in 2020E.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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