(Bloomberg) -- Kazakh President Kassym-Jomart Tokayev dismissed Galymzhan Pirmatov as central bank governor and named Timur Suleimenov to replace him, ousting the official who led the institution after riots shook the country over a year ago.
The country’s Senate voted to approve Suleimenov’s candidacy on Monday soon after Tokayev issued a decree removing Pirmatov, 51, who’s been in charge since February 2022.
Under Pirmatov’s stewardship, the National Bank of Kazakhstan was criticized for keeping interest rates high and throttling access to credit. Just days earlier, Tokayev said “the economy needs money” and called for measures that could prompt banks to boost lending and redistribute their windfall profits.
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