Kazakhstan may launch eurobonds in year 2000 - minister

/IRBIS, Feb.11, 00/ - REUTERS informs, with the reference to the minister of finance Majit Esenbaev, that Kazakhstan may launch eurobonds in year 2000 on more favorable terms than it did in 1999. "Considering a favorable situation that settled by the results of previous fiscal year, we consider to place eurobonds on financial markets on more favorable terms than they were for last issue", said the minister. He also said that it would allow to call back existing debt of the country at a discount, to refinance accumulated debt on more favorable terms. He believes Kazakhstan can create reserves to lower the non-payment risks, the peak loads onto the budget and to decrease the influences of world financial crises. He said the Ministry was going to make changes and amendments into the law "On budget system", "On state and guaranteed by the state borrowings and debt" to create a legal base for controlling the risks of state borrowing which in turn is meant to decrease the debt burden and its servicing. Last year total amount of eurobond issues (including two additional placements) reached $300 mln (by the data of IRBIS - $275 mln) with semiannual coupon of the main issue at 13.625% APR.