MINISTRY OF FINANCE HAS PUT OFF PRESCHEDULED REDEMPTION OF MEAKAM TILL DECEMBER 25

/REUTERS, Almaty, December 22, 03/ - Ministry of finance of Kazakhstan has put off date of prescheduled redemption of issued in the year 1997 10-year bonds МЕАКАМ till December 25 from December 23 of 2003, National Bank's representative informed Reuters. Securities, which the Ministry of finance issued in 1991-1997 for re-registration of the government's indebtedness to the National Bank, will be redeemed at face value. The decision to redeem МЕАКАМ in the amount of KZT14.3 bn. (about $98 m.) four years earlier than planned, which was proclaimed about a week ago, disappointed Kazakhstan banks and pension funds, which noted that by the moment of proclamation, announced market cost of the securities was 110-113% of the face value. [2003-12-22]