As of September 1, 2003 total state debt of Kazakhstan, issued as GS, reached KZT530.5 bn or $3,599.7 m along with servicing

/IRBIS, September 11, 03/ - As of September 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 to KZT530.5 bn, or $3,599.7 m at the rate KZT147.36 per dollar. 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 June till August of the current year. Since August 1 through August 31, 2003 total debt decreased by 2,429.2 m (-0.46%) in tenge, in dollar equivalent (taking into account change in the rate of the National Bank) - by 30,527.0 th. (-0.84%). Corresponding figures of debt changing in July were +KZT56,698.1 m (+11.91%) or +$412,774.9 th. (+12.83%). Relative to previous publication of IRBIS characterizing dynamics of the state debt, which is in circulation as GS, data as of August 1 of 2003 on the debt of the Ministry of finance was corrected by the sum of prescheduled redemption of МЕАКАМ, which the Ministry of finance conducted in the volume of 5,186,367 bonds on December 25 of 2002. Information about that redemption was received by IRBIS the other days and backdated in databases. According to the data, which IRBIS possesses, volume of GS issue of the National Bank in August by sums of floatation reached KZT53,954.3 m.(in July - KZT91,899.1 m.). At that, the issuer redeemed liabilities in the amount of KZT54,166.6 m. (KZT57,831.5 m.). August's net-borrowing balance of the National Bank at GS market was negative KZT212.2 m. Corresponding index of June - positive KZT34,067.6 m. Ministry of finance borrowed in August due to МЕОКАМ offering KZT6,900.0 m. (in July - KZT8,900.0 m.) and redeemed securities to the amount of KZT816.7 m. Total sum of coupon payments equaled to KZT503.9 m. (504.8 m.). August's net-borrowing balance of the Ministry of finance is estimated by IRBIS at positive KZT6,083.3 m. (in July - positive KZT8,395.2 m.). Thus, decrease of debt sum in August was caused mainly by significant decrease of issuing activity of the National Bank, which was partially compensated by the Ministry of finance due to new MEOKAM issues. Following table contains more detailed information. ----------------------------------------------------------------------------- Amount and structure of debt ---------------------------- as of Change *Currency of Aug 31,03 for the period ------------ ----------------- as of --------------- servi- stake, Jul 30,03 Issuer issue cing bn KZT % bn KZT m KZT % ------------------- ----- ------ --------- ------- ---------- --------- ----- National Bank KZT KZT 225.093 42.4 235.617 -10,524.5 -4.5 ------------------- ----- ------ --------- ------- ---------- --------- ----- Ministry of Finance 289.739 54.6 281.676 +8,063.1 +2.9 incl. face value 229.408 43.2 222.419 +6,989.2 +3.1 also, domestic GS KZT, USD KZT 137.308 25.9 130.675 +6,633.0 +5.1 also, euronotes USD USD 92.100 17.4 91.744 +356.2 +0.4 incl. servicing 60.331 11.4 59.257 +1,073.9 +1.8 also, domestic GS KZT, USD KZT 29.098 5.5 28.145 +953.1 +3.4 also, euronotes USD USD 31.233 5.9 31.113 +120.8 +0.4 ------------------- ----- ------ --------- ------- ---------- --------- ----- Municipals USD KZT 15.622 2.9 15.590 +32.2 +0.2 incl. face value USD KZT 12.521 2.4 12.473 +48.4 +0.4 incl. servicing USD KZT 3.101 0.58 3.117 -16.2 -0.5 ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. Astana akimat USD KZT 5.932 1.12 5.909 +22.9 +0.4 also, face value USD KZT 4.751 0.90 4.733 +18.4 +0.4 also, servicing USD KZT 1.181 0.22 1.176 +4.6 +0.4 ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. Atyrau region akimat USD KZT 7.786 1.47 7.755 +30.1 +0.4 also, face value USD KZT 6.046 1.14 6.022 +23.4 +0.4 also, servicing USD KZT 1.740 0.33 1.733 +6.7 +0.4 ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. E-Kz region akimat USD KZT 1.904 0.36 1.925 -20.9 -1.1 also, face value USD KZT 1.724 0.33 1.718 +6.7 +0.4 also, servicing USD KZT 0.180 0.03 0.207 -27.5 -13.3 ------------------- ----- ------ --------- ------- ---------- --------- ----- TOTAL 530.454 100.0 532.883 -2,429.2 -0.46 incl. face value 467.022 88.0 470.509 -3,486.9 -0.7 incl. Servicing 63.432 12.0 62.374 +1,057.7 +1.70 ------------------- ----- ------ --------- ------- ---------- --------- ----- OR ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. internal debt KZT KZT 407.121 76.7 410.027 -2,906.3 -0.7 also, face value KZT KZT 374.922 70.7 378.765 -3,843.2 -1.0 also, servicing KZT KZT 32.199 6.1 31.262 +936.9 +3.0 ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. external debt USD USD 123.333 23.3 122.856 +477.1 +0.4 also, face value USD USD 92.100 17.4 91.744 +356.2 +0.4 also, servicing USD USD 31.233 5.9 31.113 +120.8 +0.4 ----------------------------------------------------------------------------- * USD is shown as issue currency also in case the face value of bond is expressed in tenge, but the security is indexed on the level of changing of the rate of tenge to US dollar. The equivalent amounts as of July 31, 03 were calculated at KZT146.79 per dollar rate, as of August 31, 03 - at KZT147.36. 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 Aug 31,03 for the period ------------ ----------------- as of --------------- servi- stake, Jul 31,03 Issuer issue cing mln USD % mln USD th. USD % ------------------- ----- ------ --------- ------- ---------- --------- ----- National Bank KZT KZT 225.093 42.4 235.617 -10,524.5 -4.5 ------------------- ----- ------ --------- ------- ---------- --------- ----- Ministry of Finance 289.739 54.6 281.676 +8,063.1 +2.9 incl. face value 229.408 43.2 222.419 +6,989.2 +3.1 also, domestic GS KZT, USD KZT 137.308 25.9 130.675 +6,633.0 +5.1 also, euronotes USD USD 92.100 17.4 91.744 +356.2 +0.4 incl. Servicing 60.331 11.4 59.257 +1,073.9 +1.8 also, domestic GS KZT, USD KZT 29.098 5.5 28.145 +953.1 +3.4 also, euronotes USD USD 31.233 5.9 31.113 +120.8 +0.4 ------------------- ----- ------ --------- ------- ---------- --------- ----- Municipals USD KZT 15.622 2.9 15.590 +32.2 +0.2 incl. face value USD KZT 12.521 2.4 12.473 +48.4 +0.4 incl. Servicing USD KZT 3.101 0.58 3.117 -16.2 -0.5 ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. Astana 5.932 1.12 5.909 +22.9 +0.4 akimat USD KZT also, face value USD KZT 4.751 0.90 4.733 +18.4 +0.4 also, servicing USD KZT 1.181 0.22 1.176 +4.6 +0.4 ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. Atyrau region akimat USD KZT 7.786 1.47 7.755 +30.1 +0.4 also, face value USD KZT 6.046 1.14 6.022 +23.4 +0.4 also, servicing USD KZT 1.740 0.33 1.733 +6.7 +0.4 ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. E-Kz region akimat USD KZT 1.904 0.36 1.925 -20.9 -1.1 also, face value USD KZT 1.724 0.33 1.718 +6.7 +0.4 also, servicing USD KZT 0.180 0.03 0.207 -27.5 -13.3 ------------------- ----- ------ --------- ------- ---------- --------- ----- TOTAL 530.454 100.0 532.883 -2,429.2 -0.46 incl. face value 467.022 88.0 470.509 -3,486.9 -0.7 incl. Servicing 63.432 12.0 62.374 +1,057.7 +1.70 ------------------- ----- ------ --------- ------- ---------- --------- ----- OR ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. internal debt KZT KZT 407.121 76.7 410.027 -2,906.3 -0.7 also, face value KZT KZT 374.922 70.7 378.765 -3,843.2 -1.0 also, servicing KZT KZT 32.199 6.1 31.262 +936.9 +3.0 ------------------- ----- ------ --------- ------- ---------- --------- ----- incl. external debt USD USD 123.333 23.3 122.856 +477.1 +0.4 also, face value USD USD 92.100 17.4 91.744 +356.2 +0.4 also, servicing USD USD 31.233 5.9 31.113 +120.8 +0.4 ----------------------------------------------------------------------------- * USD is shown as issue currency also in case the face value of bond is expressed in tenge, but the security is indexed on the level of changing of the rate of tenge to US dollar. 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). [2003-09-11]