banking crisis
Nazarbayev suggests bank debt restructuring may be necessary
(SRI) - Kazakhstan’s President Nursultan Nazarbayev indicated that a restructuring of foreign debt issued by the country’s commercial banks is in the cards, the Financial Supervision Agency (FSA), the Kazakh financial watchdog, said on Friday.
Turbulence for the Kazakh economy
(BBC News) - On a cold winter afternoon a group of about 300 people gather in one of Almaty’s parks. They are demanding the resignation of Prime Minister Karim Masimov.
Kazakhstan may seek outside assistance to finance bailout program
(SRI) - Kazakhstan may be forced seek outside assistance to finance its bank-bailout program, analysts say.
ANALYSIS: RBS ready to sell — but who will buy
(SRI) - British RBS Group is ready to sell its subsidiary in Kazakhstan. The question is whether the bank will find a buyer able and willing to seal the deal.
Samruk-Kazyna to launch anti-crisis initiative in February
(SRI) - The distressed asset fund set up by the Kazakh government as part of the anti-crisis measures will begin buying out troubled bank loan next month, the chairman of Samruk-Kazyna said on Wednesday.
ANALYSIS: Kazakh banking sector in search of new business model in wake of crisis
(SRI) - Kazakhstan’s banks have been forced to revamp their business model in wake of the global financial crisis. From being almost entirely dependent on foreign borrowing, they increasingly focus on domestic depositors as a source of financing.
ANALYSIS: Plans of debt restructuring set off talk of default
(SRI) - Kazakhstan’s plans to restructure outstanding foreign loans owed by the country’s commercial banks have set off an unequivocally negative reaction among local analysts, international investors and Kazakhstan’s banks themselves.
ANALYSIS: Falling commodity prices to hit Kazakhstan hard in 2009
(bne) - Kazakhstan is expected to see a slowing of growth in 2009, as a consequence of falling prices for oil and other commodities.
ANALYSIS: Financial crisis reveals weaknesses of Kazakhstan’s stock market
(SRI) - Renaissance Capital launched the Rencasia Index at the beginning of this year to provide its clients with exposure to the booming Central Asian, though mainly Kazakh, markets. Since then, the index lost more than two thirds of its value, mirroring Kazakhstan’s fall from grace in the eyes of international investors.
Kazakh government approves USD 10 billion financial rescue package
(AP) - Kazakhstan’s government approved a $10 billion financial rescue package Tuesday that it hopes will lead the oil-rich country out of economic crisis over the next two years.
