As of April 1, 2009 state debt of Kazakhstan, issued as GS, along with its servicing totaled KZT1,300.3 bn. or $8,588.8 m.

/IRBIS, Dinara Mukasheva, April 8, 09/ - As of April 1, 2009, the total state debt of Kazakhstan, issued as government securities (GS), along with the servicing (the amount of coupon payments) made in current prices KZT1,300.3 bn., or the equivalent of $8,588.8 m. at the rate of KZT151.40 per a dollar. IRBIS specialists came to the conclusion after own databases analysis. During this analysis, the amounts of future payments on MEUJKAM and MUIKAM were calculated considering the consumer price index, which was fixed for the period from April 2008 to March 2009 inclusive. From March 1-31, 2009, the total debt in tenge equivalent increased by KZT1.7 bn. (+0.1 %), in the dollar equivalent (taking into account change in the National Bank exchange rate) decreased by 44.2 m. (-0.5 %). In February 2009 similar indicators of debt fell by 43.2 bn. (-3.2 %) or by $2,405.7 m. (-21.8 %) in tenge and dollar equivalents respectively. The following table contains more detailed information. --------------------------------------------------------------------------- Amount and structure of debt ---------------------------- Change as of as of for the *Currency of March 31, 09 Feb. 28,09 period ------------- ----------------- ---------- --------------- Issuer issue service bn. KZT stake, % bn. KZT m. KZT % ---------------- ----- ------- -------- -------- ---------- --------- ----- National Bank KZT KZT 95.00 7.3 184.02 -89,025.2 -48.4 ---------------- ----- ------- -------- -------- ---------- --------- ----- Ministry of 1,205.35 92.7 1,114.64 +90,706.8 +8.1 Finance incl. face value KZT KZT 862.14 66.3 844.71 +17,433.1 +2.1 incl. servicing KZT KZT 343.21 26.4 269.94 +73,273.7 +27.1 ---------------- ----- ------- -------- -------- ---------- --------- ----- TOTAL 1,300.35 100.0 1,298.66 +1,681.6 +0.1 incl. face value 957.14 73.6 1,028.73 -71,592.0 -7.0 incl. servicing 343.21 26.4 269.94 +73,273.7 +27.1 --------------------------------------------------------------------------- *USD is shown as issue currency also in case the face value of bond is expressed in tenge, but the security is indexed on the level of changing of the rate of tenge to US dollar. Equivalents as of March 31, 2009 were valuated at the rate of KZT151.40 per dollar, as of February 28, 2009 - at KZT150.43. Therefore, the data shown in the table reflect the dynamics emerging, besides all other factors, from the rate difference. Similar figures in U.S. dollars are given in the table as follows. --------------------------------------------------------------------------- Amount and structure of debt --------------------------- Change as of as of for the *Currency of March 31, 09 Feb. 28,09 period ------------- ---------------- ---------- ---------------- Issuer issue service m. USD stake, % m. USD th. USD % ---------------- ----- ------- ------- -------- ---------- ---------- ----- National Bank KZT KZT 627.5 7.3 1,223.3 -595,850.5 -48.7 ---------------- ----- ------- ------- -------- ---------- ---------- ----- Ministry of 7,961.4 92.7 7,409.7 +551,647.2 +7.4 Finance incl. face value KZT KZT 5,694.5 66.3 5,615.3 +79,169.7 +1.4 incl. servicing KZT KZT 2,266.9 26.4 1,794.4 +472,477.5 +26.3 ---------------- ----- ------- ------- -------- ---------- ---------- ----- TOTAL 8,588.8 100.0 8,633.0 -44,203.3 -0.5 incl. face value 6,321.9 73.6 6,838.6 -516,680.8 -7.6 incl. servicing 2,266.9 26.4 1,794.4 +472,477.5 +26.3 --------------------------------------------------------------------------- *USD is shown as issue currency also in case the face value of bond is expressed in tenge, but the security is indexed on the level of changing of the rate of tenge to US dollar. According to the data of IRBIS, the issue volume of the National Bank's GS in March 2009 by offering amount was KZT94,578.0 m. (in February - KZT82,417.8 m.). At that, the issuer paid off its notes on secondary market to the sum of KZT83,001.6 m. (KZT146,580.5 m.). Thus, in March the net- borrowing balance of the National Bank on GS market made up plus KZT11 576.4 m. The corresponding index in February made up minus KZT64 162.7 m. (the "minus" sign in the balance indicator means that the mentioned sum was withdrawn from issuer's budget and remained in investors, the "plus" sign - issuer borrowed more than redeemed). In March, the Ministry of Finance borrowed KZT60,840.0 m. (in February - KZT30,613.7 m.) and paid face values of bonds and coupon payments to the sum of KZT48,811.3 m. (in February - KZT15,960.4 m.). March net- borrowing balance of the Ministry of Finance is estimated by IRBIS at plus KZT12,028.7 m. (in February - plus KZT14,653.3 m.). Total March net-borrowing balance of all Kazakhstan GS issuers was estimated by IRBIS at plus KZT23,605.0 m. Similar indicator of February - minus KZT49,509.4 m. IRBIS Agency draws attention of subscribers and the mass media that the data given below are not the official statistics and received as a result of the information analysis, containing in database of the agency on the primary GS market. In part of internal bonds the bases of the agency are adjusted by data provided to IRBIS by Central Securities Depository JSC (Almaty). [2009-04-08]