Kazakhstan resigns from sovereign Eurobonds issue.

By bne IntelliNews July 22, 2010
Kazakhstan abandoned its plans to issue sovereign Eurobonds this year, the Finance Ministry has informed. The decision was taken after the country secured USD 1bn loan from the World Bank. The sovereign bond issues was intended to set a benchmark against which Kazakh companies would be able to borrow. The ministry informed that presently, in order to fianc's the budget deficit and to support the local stock exchange, the priority would be given to domestic borrowings.

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