The government of Kazakhstan is planning to restructure its obligations, the purpose of which is to maintain the level of public debt at a safe level. The Minister of Finance, Alikhan Smailov, announced it on February 14, at an expanded meeting of the board.
The debt burden in 2018 amounted to 12.2% with a limit of 15% and in accordance with the recommendations of international rating agencies. Work on the restructuring of the debt in the medium term to avoid exceeding the allowable values will be carried out.
The size of the external public debt in the expanded definition as of October 1, 2018 was $35.45 billion, of which the government (30%) and state banks (59%) account for $10.6 billion and $21.2 billion, respectively. 55% of liabilities are tied to a fixed rate, and another 40% have a floating rate of return. For other debts, the borrowing cost is zero, comprising 3% of liabilities, or there is no information.
Reported by ABC TV (Kazakhstan).
