As of March 1, 2003 total state debt of Kazakhstan, issued as GS, reached KZT408.8 bn or $2,678.7 m along with servicing
/IRBIS, March 17, 03/ - As of March 1, 2003 total state debt of Kazakhstan, issued as government securities (GS), including municipal bonds, along with the servicing (amount of coupon payments) equaled in current prices KZT408.8 bn, or $2,678.7 m at the rate KZT152.60 per dollar. The specialists of IRBIS came to this conclusion after making the analysis on the database of the agency. When making this analysis the payments on MEIKAM were calculated along with the consumer price index, which was fixed for the period from December of 2002 till February of 2003.
Since February 1 through February 28, 2003 total debt increased by 44,044.2 m (+12.08%) in tenge, in dollar equivalent (taking into account change in the rate of the National Bank) - by 329,806.3 th. (+14.04%). Corresponding figures of debt changing in January were -KZT7,986.0 m (- 2.23%) or -$45,519.9 th. (-1.98%).
Growth of the debt in February was caused by the necessity to tie up "excessive money" at the financial market and it was the result of abrupt increase of issue activity of the National Bank while issuing its notes. As the result as of beginning of March 26% of the whole debt and 38% of internal debt were the super-short debt of the National Bank with three-month circulation term and not less. It's notable that in presence of total decrease of the indebtedness of the Ministry of finance the cost of its GS servicing (sum of interest payments) increased in February by KZT873.8 m or $13,811.3 th. due to inflation growth that correspondingly reflected the forecasted sum of payments on МЕIКАМ.
Following table contains more detailed information. Data as of January 31, 03 has been corrected by IRBIS with respect to previous publication to the amount of indebtedness of the Ministry of finance on issued special compensating treasury bonds - МАОКО.
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Amount and structure of debt
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as of Change
Currency of February 28,03 for the period
------------ ---------------- as of ----------------
servi- bn share, Jan. 31,03 m
Issuer issue icing KZT % bn KZT KZT %
------------------- ----- ------ -------- ------- ---------- --------- ------
National Bank KZT KZT 105.726 25.9 58.669 +47,056.4 +80.2
------------------- ----- ------ -------- ------- ---------- --------- ------
Ministry of Finance 293.195 71.7 295.850 -2,654.5 -0.9
incl. face value 218.675 53.5 222.203 -3,528.3 -1.6
also, domestic GS KZT KZT 123.300 30.2 125.203 -1,903.3 -1.5
also, euronotes USD USD 95.375 23.3 97.000 -1,625.0 -1.7
incl. servicing 74.521 18.2 73.647 +873.8 +1.2
also, domestic GS KZT KZT 36.347 8.9 34.823 +1,524.2 +4.4
also, euronotes USD USD 38.174 9.3 38.824 -650.4 -1.7
------------------- ----- ------ -------- ------- ---------- --------- ------
Municipals USD KZT 9.850 2.4 10.208 -357.7 -3.5
incl. face value USD KZT 8.210 2.0 8.338 -128.1 -1.5
incl. servicing USD KZT 1.640 0.40 1.870 -229.6 -12.3
------------------- ----- ------ -------- ------- ---------- --------- ------
incl. Astana akimat USD KZT 4.509 1.10 4.746 -237.1 -5.0
also, face value USD KZT 3.584 0.88 3.633 -49.3 -1.4
also, servicing USD KZT 0.925 0.23 1.113 -187.8 -16.9
------------------- ----- ------ -------- ------- ---------- --------- ------
incl. Atyrau USD KZT 3.305 0.81 3.361 -56.3 -1.7
region akimat
also, face value USD KZT 2.841 0.69 2.889 -48.4 -1.7
also, servicing USD KZT 0.464 0.11 0.472 -7.9 -1.7
------------------- ----- ------ -------- ------- ---------- --------- ------
incl. E-Kz region USD KZT 2.036 0.50 2.100 -64.3 -3.1
akimat
also, face value USD KZT 1.786 0.44 1.816 -30.4 -1.7
also, servicing USD KZT 0.250 0.06 0.284 -33.9 -11.9
------------------- ----- ------ -------- ------- ---------- --------- ------
TOTAL 408.771 100.0 364.727 +44,044.2 +12.08
incl. face value 332.611 81.4 289.211 +43,400.0 +15.0
incl. Servicing 76.161 18.6 75.516 +644.2 +0.85
------------------- ----- ------ -------- ------- ---------- --------- ------
OR
------------------- ----- ------ -------- ------- ---------- --------- ------
incl. internal debt KZT KZT 275.222 67.3 228.903 +46,319.6 +20.2
also, face value KZT KZT 237.236 58.0 192.211 +45,025.0 +23.4
also, servicing KZT KZT 37.987 9.3 36.692 +1,294.6 +3.5
------------------- ----- ------ -------- ------- ---------- --------- ------
incl. external debt USD USD 133.549 32.7 135.824 -2,275.4 -1.7
also, face value USD USD 95.375 23.3 97.000 -1,625.0 -1.7
also, servicing USD USD 38.174 9.3 38.824 -650.4 -1.7
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The equivalent amounts as of January 31, 03 were calculated at KZT155.20 per dollar rate, as of February 28, 03 - at KZT152.60. 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.
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Amount and structure of debt
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as of Change
Currency of February 28,03 for the period
------------ ---------------- as of -----------------
servi- mln share, Jan. 31,03 th.
Issuer issue cing USD % USD USD %
------------------- ----- ------ -------- ------- ---------- ---------- ------
National Bank KZT KZT 692.8 25.9 377.1 +315,777.0 +83.7
------------------- ----- ------ -------- ------- ---------- ---------- ------
Ministry of 1,921.3 71.7 1,906.2 +15,083.6 +0.8
Finance
incl. face value 1,433.0 53.5 1,431.7 +1,272.3 +0.1
also, domestic GS KZT KZT 808.0 30.2 806.7 +1,272.3 +0.2
also, euronotes USD USD 625.0 23.3 625.0 0 0
incl. Servicing 488.3 18.2 474.5 +13,811.3 +2.9
also, domestic GS KZT KZT 238.2 8.9 224.4 +13,811.3 +6.2
also, euronotes USD USD 250.2 9.3 250.2 0 0
------------------- ----- ------ -------- ------- ---------- ---------- ------
Municipals USD KZT 64.5 2.4 65.6 -1,054.3 -1.6
incl. face value USD KZT 53.8 2.0 53.6 +214.0 +0.4
incl. Servicing USD KZT 10.7 0.40 12.0 -1,268.3 -10.6
------------------- ----- ------ -------- ------- ---------- ---------- ------
incl. Astana USD KZT 29.6 1.10 30.5 -953.8 -3.1
akimat
also, face value USD KZT 23.5 0.88 23.4 +136.1 +0.6
also, servicing USD KZT 6.1 0.23 7.2 -1,089.9 -15.2
------------------- ----- ------ -------- ------- ---------- ---------- ------
incl. Atyrau USD KZT 21.7 0.81 21.6 +55.7 +0.3
region akimat
also, face value USD KZT 18.6 0.69 18.6 +47.9 +0.3
also, servicing USD KZT 3.0 0.11 3.0 +7.8 +0.3
------------------- ----- ------ -------- ------- ---------- ---------- ------
incl. E-Kz region USD KZT 13.3 0.50 13.5 -156.2 -1.2
akimat
also, face value USD KZT 11.7 0.44 11.7 +30.1 +0.3
also, servicing USD KZT 1.6 0.06 1.8 -186.3 -10.2
------------------- ----- ------ -------- ------- ---------- ---------- ------
TOTAL 2,678.7 100.0 2,348.9 +329,806.3 +14.04
incl. face value 2,179.6 81.4 1,862.4 +317,263.4 +17.0
incl. Servicing 499.1 18.6 486.5 +12,543.0 +2.6
------------------- ----- ------ -------- ------- ---------- ---------- ------
OR
------------------- ----- ------ -------- ------- ---------- ---------- ------
incl. internal debt KZT KZT 1,803.6 67.3 1,473.7 +329,806.3 +22.4
also, face value KZT KZT 1,554.6 58.0 1,237.4 +317,263.4 +25.6
also, servicing KZT KZT 248.9 9.3 236.4 +12,543.0 +5.3
------------------- ----- ------ -------- ------- ---------- ---------- ------
incl. external debt USD USD 875.2 32.7 875.2 0 0
also, face value USD USD 625.0 23.3 625.0 0 0
also, servicing USD USD 250.2 9.3 250.2 0 0
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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).
[2003-03-17]