Duty of banks decreased by $ 3.9 billion in Kazakhstan for the first quarter of 2010

/IRBIS, July 14, 2010/ - Gross External Debt (WSC) of the Republic of Kazakhstan for the first quarter of 2010 decreased by $ 1 billion and amounted to 31 March 2010 $ 110.7 billion, set in a statement issued today a press release of the National Bank of Kazakhstan. As indicated, the duty of banks decreased by $ 3.9 billion with an increase in the debt of other sectors in the $ 2.5 billion, but the increase was only due to increase in the intercompany debt. Foreign liabilities of the sector "Public Administration" (Government of the Republic of Kazakhstan) increased by $ 46 million Given the replenishment of reserve assets of the Member States of the International Monetary Fund (IMF), which in the WSC presented as long-term debt obligations monetary authorities regulation to non-residents, the duty of the sector amounted to $ 1.4 billion "Most of the increase in the debt of other sectors account for long-term loans borrowed to finance large infrastructure and other projects supported by the state. Thus, only a net inflow of external financing for projects in the North Caspian Sea, Kazakh-Chinese gas pipeline and the pipeline of over $ 2 billion USA (84% of gross external debt of other sectors), "- stated in the message. It is noted that the relative parameters of the external debt has shown some improvement. It is related with the reduction of debt and increasing exports of goods and services, as well as the GDP in January - March, which compares the amount of external debt. In particular, on March 31, 2010 ratio of GDI to GDP declined to 97.8% from 102.4% at the end of 2009. The ratio of GDI to exports of goods and services (EGS) has also improved and amounted to 206.6%, from 231.7% at the end of 2009. In the first quarter of 2010 index, which characterizes the long-term debt service burden - the ratio of debt service payments for this one - up to 35.8% (63.5% in 2009). The amount of service includes a lump sum of Alliance Bank "under the terms of restructuring its debt and do not include in the process of restructuring the obligations of other banks. [2010-07-14]