EBRD recommends Kazakhstan to reduce level of bad debts.

By bne IntelliNews March 15, 2012
The European Bank for Reconstruction and Development recommended Kazakhstan reducing the level of bad debts and state participation in the economy. According to the banks report, the health of the banking sector should be improved. It was also suggested to improve risk management mechanism. EBRD also noted that the excessive state involvement should be reduced and the Peoples IPO is a first step. At the same time, the bank said that it considered Kazakhstan as a success story and the country had potential but also few crossroads ahead where it would have to choose the way its business would develop. The EBRD expects Kazakh GDP to expand by 6.5% this year.

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