At the time, many politicians demanded capital controls. argued the opposite. Alongside then-National Bank Governor Kairat Kelimbetov, Kamalov designed the radical shift to a free-floating exchange rate .
In an infamous 2015 interview, Kamalov said: "The market must clear itself. We cannot fight the ocean with a bucket." ablet kamalov
In the complex tapestry of post-Soviet economic reform, few names resonate with as much controversial weight and strategic foresight in Kazakhstan as Ablet Kamalov . While not a household name like the country’s first president, Nursultan Nazarbayev, Kamalov is widely regarded by insiders as the "grey cardinal" of Kazakh economics—a technocrat whose fingerprints are on nearly every major financial pivot the nation has taken in the last decade. At the time, many politicians demanded capital controls
However, as global supply chains fragment and a new resource war begins, Kazakhstan faces another crisis. When the oil price inevitably drops again, or when tensions with Russia resume, analysts predict one thing: the phone will ring for . In an infamous 2015 interview, Kamalov said: "The