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Kazakhstan: New International Bond Issue Expected Next Week

Kyiv, 10 May 1998 (RFE/RL) - Officials from Kazakhstan's Finance Minstry said today that they expect to announce a new international bond issue as soon as next week.

Daniar Abulgazin, director of the ministry's budget department, made the comment today at the board meeting of the European Bank for Reconstruction and Development in Kyiv. He said the government will make a decision next week regarding the term and amount of the bonds, the firm that will manage the issue, and the currency in which it will be denominated.

Abulgazin said nine financial institutions have bid in a tender to manage the bond issue, including foreign firms. Abulgazin also said that Kazakhstan will "actively use" the international capital markets to help fund next year's budget.