Finance Experts: Kazakhstan Faces Potential Currency Shortage for Debt Repayments
Photo: Elements.envato.com
The demand for foreign currency greatly exceeds the supply in Kazakhstan's currency market. This may lead to the country not having enough dollars to pay off its external debt, Orda.kz reports.
Analysts from the Association of Financiers of Kazakhstan (AFK) warn of this risk in their latest review.
They highlight that as of January 13, trading on KASE showed a trend of predominantly buying rather than selling currency. As a result, the tenge exchange rate weakened even more (to 528.71 tenge per dollar).
The supply of foreign currency—bolstered by export revenue inflows and the conversion of transfers from the National Fund to the budget—fails to meet current demand. This demand is driven by obligations such as servicing external debts, paying for imports, etc. According to the National Bank, external debt repayment and servicing in 2025 could total $30.5 billion, a significant increase from $24.4 billion the previous year, AFK experts note.
In October last year, it was reported that Kazakhstan's external debt had risen by $3 billion, reaching $166.7 billion.
The National Bank is actively working to stabilize the currency market and prevent the tenge from further depreciating.
However, the effectiveness of these efforts is debatable.
Original Author: Nikita Drobny
Latest news
- Kazakhstan Cancels Exam Results For More Than 700 University Applicants
- Astana LRT Operator Looks For Funding In China
- Smoke From Russian Wildfires Reaches Eastern Kazakhstan
- Kazakhstan Offers EU A Broader Partnership In Eurasia
- Oil Leak Reported In Caspian Sea Near Azerbaijan Coast
- Kazakhstan To Build 250 Roadside Service Stations For 180 Billion Tenge
- Police Chase With Kazakh Driver In Phuket Ends In Crash And Injuries
- Foreigners Moving To Kazakhstan Are Choosing Big Cities Over Most Regions
- Turkestan Region Leads Kazakhstan In Twin Births
- From Grain To AI: What Kazakhstan Brought To Afghanistan
- Helicopters Drop 39 Tons Of Water On Forest Fire In East Kazakhstan
- Kazakhstan Tightens Border Checks Despite Saying There Is No Fuel Shortage
- Kazakhstan Seeks Greek Investment In Energy And Transport
- Global Rating Agency Confirms Kazakhstan’s Investment-Grade Status
- Kazakh Company Sent $16 Million To China, Got No Goods And A Huge Fine
- Kazakh Parties Are Losing Focus With Overly Broad Programs, Expert Says
- Almaty Man Registered 990 People In One-Room Apartment And Received Sentence
- Montenegro President Makes First Official Visit To Kazakhstan
- Gas Prices In Kazakhstan To Rise From July 1
- Kazakhstan’s Oldest Gold Mining Company Resold For 8.7 Billion Tenge
