ASTANA — The Astana Times has selected articles from global media outlets covering Kazakhstan. This week’s foreign media digest highlights the country’s economic and financial development, sovereign wealth strategy and global ambitions, alongside Elena Rybakina’s historic rise to world No. 1.
Astana. Photo credit: The Astana Times.
Elena Rybakina becomes world No. 1 for first time after U.S. Open win over Zheng Qinwen
Women’s tennis has a new world No. 1. Elena Rybakina took the top spot from Aryna Sabalenka on Wednesday at the U.S. Open with a quarterfinal win over China’s Zheng Qinwen, 3-6, 6-1, 6-4. It is her first time at the summit of women’s tennis, reported The New York Times on Sept. 9.
“It’s a great achievement, and I feel like you will appreciate and think about it even more when you finish your career,” Rybakina said in a news conference, when asked about the milestone.
Kazakhstan’s AIFC says other countries are seeking to replicate its model
Kazakhstan’s financial hub says its model is attracting interest abroad as competition between financial centres intensifies, while limited market liquidity remains a key challenge, reported Euronews on Sept. 9.
For two days, Astana Finance Days 2026 brought together representatives of global financial institutions that collectively manage more than $26 trillion in assets, as Kazakhstan seeks to strengthen its position in the global competition for capital.
How Kazakhstan’s economic reforms have turned the tenge into the best-performing currency in Europe and Asia
EU Reporter published an article on Sept. 7 examining the tenge’s strong performance in 2026 and highlights Kazakhstan’s accelerating economic transformation, driven by foreign investment, diversification, digitalization, infrastructure development, and the expansion of its financial and technology sectors.
“The Kazakhstani tenge has become the best-performing currency in Asia and Europe in 2026, according to the Financial Times. Since the beginning of the year, it has appreciated by nearly 10% against the US dollar, outperforming all other currencies worldwide except for several currencies of Latin American and African countries. This performance has been underpinned by economic growth driven by the transformation of Kazakhstan’s economic model. The country is rapidly evolving from a commodity-based economy into a financial and technology hub for Central Asia, amid growing inflows of foreign capital,” reads the article.
Erlan Karin’s appointment links reform and national identity
The Times of Central Asia published an article on Sept. 1 about Erlan Karin’s appointment as Vice President of Kazakhstan.
“When President Kassym-Jomart Tokayev put forward Erlan Karin for vice president on Aug. 31, he called him ‘a genuine patriot’ with long experience in government. He also stressed Karin’s part in implementing major reforms, his grasp of long-term state strategy and his understanding of Kazakhstan’s prospects for socioeconomic development.
Karin has spent seven years in senior posts under Tokayev. He also has a sustained interest in a question that runs through the president’s agenda — how Kazakhstan can modernize while remaining connected to its own history and national identity,” reads the article.
From oil reserves to infrastructure: How Kazakhstan invests in future generations
EU Reporter released an article on Sept. 8 examining how Kazakhstan can transform part of its sovereign wealth from financial savings into long-term national capital by investing in infrastructure, healthcare, education, and other assets that can generate lasting economic and social benefits for future generations.
“Savings from the National Fund are already being utilized directly in the interests of future generations. Since 2024, Kazakhstan has operated the National Fund for Children program: every young citizen of Kazakhstan is annually allocated a portion of the fund’s investment income, and upon reaching 18 years of age, the accumulated funds can be used for education or housing improvement. This program has already entered the phase of practical asset utilization. Between February 2024 and Aug. 1, payouts were received by more than 338,000 young Kazakhstanis, totaling approximately $67.8 million. Meanwhile, the funds belonging to minors remain within the National Fund’s assets and continue to be invested until they reach adulthood,” reads the article.
Almaty and Astana set to retain Central Asia’s economic lead
Almaty and Astana are likely to retain their position as Central Asia’s leading economic centers, even as Tashkent and Bishkek record rapid growth and invest heavily in their future expansion. Kazakhstan’s two largest cities benefit from an economic scale, financial infrastructure and established business ecosystems that have been built up over decades, reported the Times of Central Asia on Sept. 7.
“Almaty and Astana benefit from an economic scale unmatched elsewhere in Central Asia. Kazakhstan alone accounts for more than half of the region’s GDP and roughly two-thirds of its inward FDI stock, according to TCA’s Central Asia Balance Sheet. That scale helps generate the fiscal resources needed to build and maintain the municipal infrastructure that supports business activity,” reads the article.
