Kazakh President Kassym-Jomart Tokayev ordered Wednesday a write-off of millions of dollars in debt for some of the country's poorest families in an apparent effort to head off new protests.
Tokayev, who was elected president this month following the shock retirement of his political patron Nursultan Nazarbayev, said the move would free 255,000 people of debt completely while alleviating the plight of thousands of others. Tokayev, 66, has had a difficult start as Kazakhstan's second president in nearly three decades of independence, with police detaining 4,000 people to tamp down protests on election day and the days that followed. An international observation mission criticised the detentions and said the June 9 vote showed "scant respect" for democracy.
The write-offs would cover debts up to 300,000 tenge, or nearly $800, said Tokayev, adding however that they would be limited to specific categories of debtors. The order released Wednesday said the measure would be available to a number of disadvantaged groups as well as families with many children.
The order also included restrictions targeting lenders including "a ban on the provision of loans to citizens with incomes below the subsistence minimum" and additional "measures for the issuance of unsecured consumer loans". In February, Nazarbayev sacked the cabinet, citing economic failures amid repeated protests by low-income mothers who called for better social and housing benefits. The veteran leader whose reign began during Soviet times has retained a number of key titles despite stepping down and is believed to be calling the shots in the oil-rich Central Asian country of 18 million people.
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