Kazakhstan's External Debt Increased by Three Billion Dollars

Since the beginning of 2024, Kazakhstan's external debt has grown by three billion dollars, reaching 166.7 billion dollars as of July 1. This follows from the report of the National Bank, Orda.kz reports.

According to the National Bank, the increase in debt obligations is primarily due to new loans (2.7 billion tenge). Fluctuations in the national currency's exchange rate and other cost changes are also factors.

In the structure of Kazakhstan's external debt by original maturity, 87.5% is long-term (over a year) external debt. On the one hand, this minimizes liquidity risks, and on the other, it increases the impact of changes in general market conditions on debt repayment and servicing, The National Bank's report says.

External debt is mainly formed by loans and credits from non-residents (73.9%) and debt securities held by non-residents (eight percent).

As the National Bank statistics indicate, the external debt amounted to $14.7 billion as of July 1. It has grown by $700 million over the past six months. The indebtedness of banks and state-controlled organizations remained at the same level — $15.6 billion. The bulk of the total debt comprises liabilities of private companies.

IMF representatives recently assessed the volume of Kazakhstan's public debt. They noted that this figure remains "relatively low and manageable."

Original Author: Nikita Drobny