Kazakhstan’s external debt drops
By Vusala Abbasova
Kazakhstan’s external debt fell to $154,191 billion for the first quarter of 2015, according to the country's National Bank.
In comparison with the end of 2014, when the country's external debt amounted to $157,062 billion, the external debt decreased by 1.8 percent for the first three months of this year.
The share of the state and publicly guaranteed debt of total external debt volume decreased by 5.4 percent and amounted to $8,360 billion during the first quarter.
The country’s short-term debt decreased from $9.918 billion to $8.356 billion during the January-March, while long-term debt decreased from $147.144 billion to 145.835 billion.
Exchange rates have a significant impact on foreign trade in Kazakhstan, causing a change in the domestic economic situation, including the rise and fall of the country's external debt.
The high exchange rate expands import, stimulates foreign and domestic capital in the country and increases profits of foreign investment. So, the actual amount of foreign debt reduces, due to devalued foreign currencies.
Kazakhstan created the best investment conditions in the Central Asian region, the experts estimate.
The World Bank has recognized Kazakhstan as a country favorable for investment. It maintains a low international debt while its currency reserves exceed $100 billion.
The economy growth in Kazakhstan provides the country readiness to global economic shocks.
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