Editor's Note: The following is part of the Panama Papers series of investigations by the Organized Crime and Corruption Reporting Project, a Kyiv Post partner.
In January 2016, as the Kazakh economy was reeling from falling oil prices, its currency lost more than half its value. To meet the needs of the country’s social programs for the rest of the year, the government would need to use at least 12 percent of the National Fund, a hefty reserve fund of nearly US$ 62 billion earned from oil, gas and metals.
