The seventy-eight year old President of Kazakhstan Mr. Nursultan Nazarbayev has resigned.
President Nazarbayev, who was elected for a fifth five-year term in 2015, said the speaker of the Central Asian country’s legislative upper house, Kassym-Jomart Tokayev, will serve as the interim head of state until a new election is held.
The announcement came less than a month after Nazarbayev fired his government, citing a lack of economic development despite the country’s vast energy resources.
That decision followed rising dissatisfaction in Kazakhstan, where the commodity-dependent economy has struggled to recover from a 2014 plunge in oil prices and Western sanctions against Russia, a key trading partner.
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