IMF to discuss a loan to Kazakhstan in mid December

/IRBIS, Dec.1, 99/ - Moscow office of REUTERS informs, with the reference to the representative of the Fund, that International Monetary Fund is more likely to discuss the matter on granting a new loan to Kazakhstan in mid December. However, the amount of the loan and the necessity to satisfy any additional IMF requirements by Kazakhstan was not mentioned. Last IMF loan was not used completely, since the Fund has not been satisfied with the economic policy of country's government. Nonetheless, a new economic program of the government was accepted by IMF, and the country's president told that the loan was to be granted soon. It is expected $400 mln from IMF and another $175 mln from the World bank. "Actually, out program of reforms has already been coordinated with IMF, and I hope, it will be approved in next few days. As a result, the country will get $175 mln loan from the World Bank in December", said the president. Kazakhstan has suffered the crisis of 1998, but Nazarbaev said, the country was recovering from its consequences. Eurobonds were placed in November, but Kazakhstan still needs money to finance its budget 1999 deficit. "Kazakhstan launched eurobonds for $275 millions: It means that investors trust Kazakhstan. Let's not hide that we have reserves for, so-called, emergencies", said the president.