Central Asia

Central Asia is the core region of the Asian continent and stretches from the Caspian Sea in the west to China in the east and from Afghanistan in the south to Russia in the north. It is also sometimes referred to as Middle Asia, and, colloquially, "the 'stans" (as the six countries generally considered to be within the region all have names ending with the Persian suffix "-stan", meaning "land of") and is within the scope of the wider Eurasian continent.

In modern contexts, all definitions of Central Asia include these five republics of the former Soviet Union: Kazakhstan (pop. 17 million), Kyrgyzstan (5.7 million), Tajikistan (8.0 million), Turkmenistan (5.2 million), and Uzbekistan (30 million), for a total population of about 66 million as of 2013–2014. Afghanistan (pop. 31.1 million) is also sometimes included.

Various definitions of Central Asia's exact composition exist, and not one definition is universally accepted. Despite this uncertainty in defining borders, the region does have some important overall characteristics. For one, Central Asia has historically been closely tied to its nomadic peoples and the Silk Road. As a result, it has acted as a crossroads for the movement of people, goods, and ideas between Europe, Western Asia, South Asia, and East Asia.

Central bank

A central bank, reserve bank, or monetary authority is an institution that manages a state's currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base in the state, and usually also prints the national currency, which usually serves as the state's legal tender.

The primary function of a central bank is to control the nation's money supply (monetary policy), through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Central banks usually also have supervisory powers, intended to prevent bank runs and to reduce the risk that commercial banks and other financial institutions engage in reckless or fraudulent behavior. Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists.