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21 June 2010, 12:34
Financial situation in Kazakhstan stabilized - Massimov
ASTANA. June 21. KAZINFORM /Kanat Kulshmanov/ The financial situation has fully stabilized in Kazakhstan.

Kazakhstan Prime Minister Karim Massimov has announced it at the joint session of the Parliament Houses today.

The Premier reminded that in the crisis period the country acquired a controlling stake of three top banks - BTA Bank, Alliance Bank and Temirbank.

"As a result of the restructuring debt of Alliance Bank was decreased from USD 4 bln to USD 1 bln, BTA Bank  - from USD 1o bln to USD 4 bln, Temirbank - from USD 1 bln to USD 100 mln", K.Massimov said.

According to him, creditors wrote off about USD 10 bln of external debt.

"As a result of the measures taken the financial system became stable. And our banking system overcame that difficult period of problems they have faced", the Premier said.

Translation: Nazym Zarlykanova

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