In March 2002 short-term debt of Ministry of Finance of Kazakhstan, issued as GS, grew by 6.1% at face value, mid-term - by 5.0%

/IRBIS, April 1, 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 coupon payments) by 6.1% at face value, mid-term - by 5.0%. In absolute monetary terms the growth of the principal amount of short-term debt (1 year or less maturity terms) within a month equaled KZT0.635bn, whereas for mid-term debt (GS with 1 to 10 year maturity) it reached KZT3.252bn. Total increase in principal amount of the debt on domestic debt of the Ministry of Finance in March is estimated by IRBIS at KZT3.887bn, or 5.0% growth. Resulting change in the debt structure in March was an insignificant growth in the proportion of short-term borrowing from 13.89% to 14.01%, and decline in mid-term borrowing from 86.11% to 85.99%. Meanwhile, the proportion of borrowing indexed towards inflation increased from 6.4% to 8.5%. Weighted average circulation term of all issued and outstanding MEKAM decreased from 1,331 days as of Feb 28, 02 to 1,282 days as of March 31, 02. When these data are considered it should be taken into account that the structure of the debt changes even if the Ministry of Finance is not issuing new bonds and old ones do not mature. It happens due to daily decline in circulation term of each issued bond. As it has been informed by the agency IRBIS today, including the servicing cost and inflation for December 2001 to February 2002 domestic debt of the Ministry of Finance increased from KZT105.1bn to KZT109.5bn within a month, or 4.2%. Below is the table with the structure of domestic debt of the Ministry of Finance based on its face value in March 2002 (bn KZT, %). ------------------------------------------------------------------------- as of Feb 28.02 as of March 31.02 Trend Term Type --------------- ----------------- --------------- of debt of GS amount share,% amount share,% amount share,% ------------ ------ ------ ------- ------- -------- ------ ------- 1 year MEKKAM 2.504 3.3 2.310 2.9 -0.194 -7.7 or less MEOKAM 7.221 9.6 8.121 10.3 +0.900 +12.5 MEIKAM 0.692 0.9 0.621 0.8 -0.071 -10.3 ------------ ------ ------ ------- ------- -------- ------ ------- Short-term debt 10.416 13.89 11.052 14.01 +0.635 +6.1 incl. indexed 0.692 0.9 0.621 0.8 -0.071 -10.3 -------------------- ------ ------- ------- -------- ------ ------- MEOKAM 26.039 34.7 27.319 34.6 +1.280 +4.9 1 - 10 years MEAKAM 34.441 45.9 34.441 43.7 0 0 MEIKAM 4.116 5.5 6.088 7.7 +1.972 +47.9 ------------ ------ ------ ------- ------- -------- ------ ------- Mid-term debt 64.596 86.11 67.848 85.99 +3.252 +5.0 incl. indexed 4.116 5.5 6.088 7.7 +1.972 +47.9 -------------------- ------ ------- ------- -------- ------ ------- TOTAL 75.012 100.0 78.899 100.0 +3.887 +5.2 incl. indexed 4.808 6.4 6.709 8.5 +1.901 +39.5 ------------------------------------------------------------------------- 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). [2002-04-01]