In 2002 total state debt of Kazakhstan, issued as GS, increased by KZT32.9 bn or $136.0 m along with servicing

/IRBIS, January 7, 03/ - In 2002 total state debt of Kazakhstan, issued as government securities (GS), including municipal bonds, along with the servicing (amount of coupon payments) increased in current prices by KZT32.9 bn (10.10%), or $136.0 m (6.28%). The specialists of IRBIS came to this conclusion after making the analysis on the database of the agency. At that face value of the debt increased by KZT43.4 bn (18.0%) or $223.3 m (13.9%), sum of servicing decreased by KZT10.5 bn (12.43%) or $87.3 m (15.5%). Increase of the debt's volume in December was caused by increased activity of the National Bank of Kazakhstan while issuing short-term notes in December. The super short debt of the National Bank (no more than 91 days) increased according to results of the year by KZT47.0 bn (264.1%) or $297.9 m (251.4%). This was the result of the fact that the Ministry of finance, which was not interested in new borrowings, refused bonds issue in the end of the year. Debt of the Ministry of finance in 2002 fell by KZT17.4 bn (5.8%) or $181.0 m (9.0%) mainly due to redemption of sovereign euronotes of the second issue. During the reporting period debt of domestic executive bodies, which is indexed in accordance with tenge devaluation level, increased a bit. Sum of the increase, together with servicing, is estimated by IRBIS at KZT3.2 bn (45.9%) or $19.1 m (40.8%). Following table contains more detailed information. -------------------------------------------------------------------------------- Amount and structure of debt ---------------------------- as of Change Currency of December 31,02 as of for the period -------------- ------------- December 31,01 ---------------- Issuer issue servicing bn KZT share,% bn KZT m KZT % ------------------- ----- -------- ------ -------- ------------ --------- ------ National Bank KZT KZT 64.790 18.1 17.797 +46,993.6 +264.1 ------------------- ---- -------- ------ -------- ------------ --------- ------ Ministry of Finance 283.325 79.1 300.685 -17,359.8 -5.8 incl. face value 211.025 58.9 217.166 -6,141.6 -2.8 also, domestic GS KZT KZT 113.775 31.7 70.721 +43,053.4 +60.9 also, euronotes USD USD 97.250 27.1 146.445 -49,195.0 -33.6 incl. servicing 72.300 20.2 83.519 -11,218.2 -13.4 also, domestic GS KZT KZT 33.376 9.3 30.066 +3,309.9 +11.0 also, euronotes USD USD 38.924 10.9 53.452 -14,528.1 -27.2 ------------------- ---- -------- ------ -------- ------------ --------- ------ Municipals USD KZT 10.267 2.9 7.037 +3,230.4 +45.9 incl. face value USD KZT 8.353 2.3 5.808 +2,545.6 +43.8 incl. servicing USD KZT 1.914 0.53 1.229 +684.8 +55.7 ------------------- ---- -------- ------- -------- ------------ --------- ------ incl. Astana akimat USD KZT 4.750 1.33 2.305 +2,444.7 +106.1 also, face value USD KZT 3.636 1.01 1.932 +1,704.2 +88.2 also, servicing USD KZT 1.114 0.31 0.373 +740.5 +198.4 ------------------- ---- -------- ------- -------- ------------ --------- ------ incl. Atyrau USD KZT 3.370 0.94 3.482 -112.0 -3.2 region akimat also, face value USD KZT 2.896 0.81 2.796 +100.5 +3.6 also, servicing USD KZT 0.474 0.13 0.686 -212.5 -31.0 ------------------- ---- -------- ------- -------- ------------ --------- ------ incl. E-Kz region USD KZT 2.148 0.60 1.250 +897.7 +71.8 akimat also, face value USD KZT 1.821 0.51 1.080 +740.8 +68.6 also, servicing USD KZT 0.327 0.09 0.170 +156.9 +92.2 ------------------- ---- -------- ------- -------- ------------ --------- ------ TOTAL 358.383 100.0 325.518 +32,864.2 +10.10 incl. face value 284.168 79.3 240.770 +43,397.6 +18.0 incl. Servicing 74.214 20.7 84.748 -10,533.4 -12.43 ------------------- ---- -------- ------- -------- ------------ --------- ------ OR ------------------- ---- -------- ------- -------- ------------ --------- ------ incl. Internal debt KZT KZT 222.208 62.0 125.621 +96,587.3 +76.9 also, face value KZT KZT 186.918 52.2 94.325 +92,592.6 +98.2 also, servicing KZT KZT 35.290 9.8 31.295 +3,994.7 +12.8 ------------------- ---- -------- ------- -------- ------------ --------- ------ incl. External debt USD USD 136.174 38.0 199.897 -63,723.1 -31.9 also, face value USD USD 97.250 27.1 146.445 -49,195.0 -33.6 also, servicing USD USD 38.924 10.9 53.452 -14,528.1 -27.2 -------------------------------------------------------------------------------- The equivalent amounts as of December 31, 02 were calculated at KZT155.60 per dollar rate, as of December 31, 01 - at KZT150.20. Therefore, the data shown in the table reflect the dynamics due to the exchange rate differences. Similar figures in U.S. dollars are given in the following table. -------------------------------------------------------------------------------- Amount and structure of debt ---------------------------- as of Change Currency of December 31,02 as of for the period -------------- -------------- December 31,01 ----------------- Issuer issue servicing m USD share,% m USD th. USD % ----------------- ----- -------- ------ ------- -------------- ---------- ------ National Bank KZT KZT 416.4 18.1 118.5 +297,903.3 +251.4 ----------------- ----- -------- ------ ------- -------------- ---------- ------ Ministry of 1,820.9 79.1 2,001.9 -181,041.1 -9.0 Finance incl. face value 1,356.2 58.9 1,445.8 -89,647.3 -6.2 also, domestic GS KZT KZT 731.2 31.7 470.8 +260,352.7 +55.3 also, euronotes USD USD 625.0 27.1 975.0 -350,000.0 -35.9 incl. Servicing 464.7 20.2 556.0 -91,393.9 -16.4 also, domestic GS KZT KZT 214.5 9.3 200.2 +14,324.9 +7.2 also, euronotes USD USD 250.2 10.9 355.9 -105,718.8 -29.7 ----------------- ----- ------- ------- ------- -------------- ---------- ------ Municipals USD KZT 66.0 2.9 46.9 +19,134.9 +40.8 incl. face value USD KZT 53.7 2.3 38.7 +15,018.0 +38.8 incl. Servicing USD KZT 12.3 0.53 8.2 +4,116.9 +50.3 ----------------- ----- ------- ------- ------- -------------- ---------- ------ incl. Astana USD KZT 30.5 1.33 15.3 +15,179.1 +98.9 akimat also, face value USD KZT 23.4 1.01 12.9 +10,506.4 +81.7 also, servicing USD KZT 7.2 0.31 2.5 +4,672.7 +188.1 ----------------- ----- ------- ------- ------- -------------- ---------- ------ incl. Atyrau USD KZT 21.7 0.94 23.2 -1,524.5 -6.6 region akimat also, face value USD KZT 18.6 0.81 18.6 0 0 also, servicing USD KZT 3.0 0.13 4.6 -1,524.5 -33.4 ----------------- ----- ------- ------- ------- -------------- ---------- ------ incl. E-Kz region USD KZT 13.8 0.60 8.3 +5,480.4 +65.8 akimat also, face value USD KZT 11.7 0.51 7.2 +4,511.6 +62.7 also, servicing USD KZT 2.1 0.09 1.1 +968.8 +85.5 ----------------- ----- ------- ------- ------- -------------- ---------- ------ TOTAL 2,303.2 100.0 2,167.2 +135,997.1 +6.28 incl. face value 1,826.3 79.3 1,603.0 +223,274.1 +13.9 incl. Servicing 477.0 20.7 564.2 -87,276.9 -15.5 ----------------- ----- ------- ------- ------- -------------- ---------- ------ OR ----------------- ----- ------- ------- ------- -------------- ---------- ------ incl. Internal KZT KZT 1,428.1 62.0 836.4 +591,715.9 +70.7 debt (KZT) also, face value KZT KZT 1,201.3 52.2 628.0 +573,274.1 +91.3 also, servicing KZT KZT 226.8 9.8 208.4 +18,441.8 +8.9 ----------------- ----- ------- ------- ------- -------------- ---------- ------ incl. External USD USD 875.2 38.0 1,330.9 -455,718.8 -34.2 debt (USD) also, face value USD USD 625.0 27.1 975.0 -350,000.0 -35.9 also, servicing USD USD 250.2 10.9 355.9 -105,718.8 -29.7 -------------------------------------------------------------------------------- The agency IRBIS draws the attention of its subscribers and mass media to the fact that these data are not official and were obtained through the analysis of the information on primary GS market from the databases of the agency. The agency IRBIS also draws the attention of the mass media that this material was prepared by the agency IRBIS but not the Kazakhstan Stock Exchange (KASE). [2003-01-07]