In August of 2002 weighted average term of debtd of Ministry of Finance of Kazakhstan, issued as GS, decreased from 1,122 to 1,105 days

/IRBIS, September 3, 02/ - Based on the data, obtained by IRBIS agency as a result of the information of its specialists, in August of 2002 domestic short-term debt of the Ministry of Finance of Kazakhstan, issued as GS, decreased (excluding coupon payments) by 6.8% at face value, mid-term grew by 2.3%. In absolute monetary terms the growth of the principal amount of short-term debt (1 year or less maturity terms) within a month equaled KZT0.727bn, whereas for mid-term debt (GS with 1 to 10 year maturity) it reached KZT1.944bn. Total increase in principal amount of the debt on domestic debt of the Ministry of Finance in August is estimated by IRBIS at KZT1.217bn, or 1.3% growth. Resulting change in the debt structure in August resulted in decrease in the proportion of short-term borrowing from 11.01% to 10.12%, and increase in mid-term borrowing from 88.99% to 89.88%. Meanwhile, the proportion of borrowing indexed towards inflation did not change. Weighted average circulation term of all issued and outstanding MEKAM decreased from 1,122 days as of July 31, 02 to 1,105 days as of August 31, 02. Long-term GS (more than 10 years) were not in circulation. 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 before, including the servicing cost and inflation for June - August domestic debt of the Ministry of Finance has remained almost the same: it increased from KZT128.0bn to KZT128.3bn within a month, or 0.23%. Below is the table with the structure of domestic debt of the Ministry of Finance based on its face value in August of 2002 (bn KZT, %). ------------------------------------------------------------------------ as of July 31.02 as as of July 31.02 of August 31.02 Trend ---------------- --------------- ------ ------- Term Type ------- ------- ------ ------- ------ ------- of debt of GS amount share,% amount share,% amount share,% ------------ ------ ------- ------- ------ ------- ------ ------- 1 year МЕККАМ 1.738 1.8 1.488 1.5 -0.250 -14,4 and less МЕОКАМ 8.617 8.9 8.140 8.3 -0.477 -5,5 МЕIКАМ 0.260 0.3 0.260 0.3 0 0 ------------ ------ ------- ------ ------- Short-term debt 10,615 11.01 9.888 10.12 -0.727 -6.8 Inc indexed 0,260 0.3 0.260 0.3 0 0 -------------------- ------- ------- ------ ------- ------ ------- More than МЕОКАМ 43.793 45.4 45.737 46.8 +1.944 +4,4 1 year and МЕАКАМ 34.441 35.7 34.441 35.3 0 0 Less than 10 МЕIКАМ 7.603 7.9 7.603 7.8 0 0 ------------ ------ ------- ------- ------ ------- ------ ------- Mid-term debt 85,837 88.99 87.781 89.88 +1.944 +2.3 Inc. indexed 7,603 7.9 7.603 7.8 0 0 -------------------- ------- ------- ------ ------- ------ ------- TOTAL 96.452 100.0 97.669 100.0 +1.217 +1,3 Inc. indexed 7,863 8.2 7.863 8.1 0 0 ------------------------------------------------------------------------ The agency IRBIS draws the attention of the mass media that this material was prepared by the agency IRBIS and not by the Kazakhstan Stock Exchange (KASE). [2002-09-04]