Kazakh central banker sees many emerging market devaluations in 2014

Reuters

GENEVA, Feb 5 (Reuters) - Kazakhstan's central bank governor Kairat Kelimbetov expects to see a lot of emerging market currency devaluations this year, with the Russian rouble likely to be "close to collapse again," he said in Geneva on Wednesday.

"I think it's kind of a beginning," he said of a recent emerging markets sell-off. "It's not only a Russian economy problem but a problem for all the emerging markets and I think we will see a lot of devaluation this year. And the situation with the rouble will be, let's say, close to collapse again."

For Kazakhstan, the two big potential shocks were the oil price and the sharp change in the rouble, but he said Kazakhstan had opportunities to adjust its exchange rate and would do so if necessary.

Rates

View Comments (0)