Kazakhstan reduces external debt

Finance Materials 5 April 2019 16:57 (UTC +04:00)

Baku, Azerbaijan, Apr. 5

By Rashid Shirinov – Trend:

In the 4th quarter of 2018, Kazakhstan’s external debt decreased by $2.5 billion due to a reduction in the debt of the non-banking sector of the economy, Trend reports via Kazakh media.

"As of January 1, 2019, the external debt of the Republic of Kazakhstan amounted to $158.8 billion, or 93.1 percent of GDP," the National Bank of Kazakhstan stated.

Intercompany debt prevails in the structure of external debt – 63.6 percent, followed by the external debt of other sectors to unrelated creditors (25 percent), public external debt (7.8 percent), and external liabilities of the Banks sector (second-tier banks and the Development Bank of Kazakhstan) (3.6 percent).

At the same time, the net foreign debt of Kazakhstan amounted to $47.2 billion, having decreased by $560.5 million in the 4th quarter of 2018.


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