In February 2002 short-term debt of Ministry of Finance of Kazakhstan, issued as GS, grew by 6.4% at face value, mid-term - by 3.7%
/IRBIS, March 4, 02/ - Based on the data, obtained by IRBIS agency as a result of the information of its specialists, in February 2002 domestic short- term debt of the Ministry of Finance of Kazakhstan, issued as GS, increased (excluding interest) by 6.4% at face value, mid-term - by 3.7%. In previous month these figures were +6.1% and +2.1%, respectively (hereafter all corresponding figures of previous months are given in parentheses).`
In absolute monetary terms the growth of the principal amount of short-term debt (MEKKAM of all maturity terms) within a month equaled KZT0.150bn (KZT0.136bn), whereas for mid-term debt (MEOKAM and MEIKAM) it reached KZT2.590bn (KZT1.415bn). Total increase in principal amount of the debt on domestic GS in February is estimated by IRBIS at KZT2.740 (KZT1.551bn), or 3.8% growth (2.2%).
Resulting change in the debt structure in February was an insignificant growth in the proportion of short-term borrowing from 3.26% to 3.34%, and decline in mid-term borrowing from 96.74% to 96.66%. Meanwhile, the proportion of borrowing indexed towards inflation increased from 5.6% to 6.4%. Weighted average circulation term of all issued and outstanding MEKAM decreased from 1,378 days as of Jan 31, 02 to 1,331 days as of Feb 28, 02.
As it has been informed by the agency IRBIS today, including the servicing (based on last three months' inflation) domestic debt of the Ministry of Finance increased from KZT102.6bn to KZT105.1bn within a month, or 2.4%.
Below is the table with the structure of domestic debt of the Ministry of Finance based on its face value in February 2002 (bn KZT, %).
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As As
of Jan 31, 02 of Feb 28, 02 Trend
GS type ------------- ------------- --------------
amount % amount % amount %
--------------- ------ ----- ------ ----- ------ ------
MEKKAM-3 0.115 0.2 0.115 0.2 0 0
MEKKAM-6 1.428 2.0 1.578 2.1 +0.150 +10.5
MEKKAM-9 0.322 0.4 0.322 0.4 0 0
MEKKAM-12 0.488 0.7 0.488 0.7 0 0
--------------- ------ ----- ------ ----- ------ ------
Short-term debt 2.354 3.3 2.504 3.3 +0.150 +6.4
--------------- ------ ----- ------ ----- ------ ------
MEOKAM-24 13.232 18.3 14.073 18.8 +0.841 +6.4
MEOKAM-36 14.985 20.7 15.985 21.3 +1.000 +6.7
MEOKAM-48 2.558 3.5 2.558 3.4 0 0
MEOKAM-60 0.643 0.9 0.643 0.9 0 0
MEAKAM 34.441 47.7 34.441 45.9 0 0
MEIKAM-18 0.952 1.3 0.952 1.3 0 0
MEIKAM-24 0 0 0.749 1.0 +0.749 +100.0
MEIKAM-36 0.953 1.3 0.953 1.3 0 0
MEIKAM-48 1.219 1.7 1.219 1.6 0 0
MEIKAM-60 0.720 1.0 0.720 1.0 0 0
MEIKAM-84 0.215 0.3 0.215 0.3 0 0
--------------- ------ ----- ------ ----- ------ ------
Mid-term debt 69.918 96.7 72.508 96.7 +2.590 +3.7
incl. Indexed 4.059 5.6 4.808 6.4 +0.749 +18.5
--------------- ------ ----- ------ ----- ------ ------
TOTAL 72.272 100.0 75.012 100.0 +2.740 +3.8
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The agency IRBIS also draws the attention of the mass media that this material was prepared by the agency IRBIS and not by the Kazakhstan Stock Exchange (KASE).