The internal loans of Kazakhstan will make 6.5 bln tenges

/IRBIS, Jan.28, 00/ - According to the interview of the Minister of Finance Mazhit Esenbaev to REUTERS, Kazakhstan in 2000 will make the internal drawings within the limits of 10-15% from the three-percentage deficit of the republican budget or in volume of about 6.5 billion tenges. Under the Ministry of Finance data on January 27, 2000 there are State Securities to the sum of 110.3 billion tenges in circulation, from them Securities to the sum of 68.2 billion tenges with the circulation term of 5-10 years. Since beginning of a current year the Ministry of Finance has redeemed State Securities to the sum of 20 million tenges. The minister has told that the securities yield for the internal investors depends on the macroeconomic parameters. The Ministry of Finance, the National Securities Comission and the National Bank study a possible State Securities issue for the population, with prospective circulation term from 6 months till 3 years, he has added. In the field of external drawings the Ministry of Finance will continue constrained policy and development of the before signed credits. The minister also has reminded that in the end of 1999 the three-years $450 million IMF crediting program has been approved. These means are not used yet. In the last year Kazakhstan has received from the World bank $175 million for the pension reform and structural transformations, he has added. He considers investment of the pension funds assets in State Securities as optimal and most reliable. "Though there are different space projects, it is impossible to risk by money of the pensioners", - he has told.