Ablet Kamalov ~upd~ Jun 2026

Ablet Kamalov ~upd~ Jun 2026

To discuss modern Kazakh economic history is to discuss Ablet Kamalov. He is the man who taught Kazakhstan that sometimes, to survive, you must let the currency fall.

Ablet Kayumovich Kamalov was born on . His family belonged to the Uyghur ethnic group, a Turkic people native to the Xinjiang region. In 1963, at the age of two, he migrated with his parents to the Kazakh Soviet Socialist Republic, part of the Soviet Union. This early migration, part of a larger, complex cross-border movement between China and the USSR, would later become a central focus of his academic research. Settling in Alma-Ata (now Almaty, Kazakhstan), he demonstrated exceptional academic promise from an early age, graduating with a golden medal from Secondary School No. 90 in 1979. ablet kamalov

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Ablet Kamalov’s most defining legacy is his role in the Kaspiy (Caspian) and Baikonur currency reforms. By 2015, Kazakhstan was bleeding reserves. The National Bank spent $28 billion defending an artificial exchange rate against the Russian ruble (which had collapsed) and the US dollar. His family belonged to the Uyghur ethnic group,