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Most of Kazakhstan's creditors not to be affected by tenge devaluation

Astana. February 6. Kazakhstan Today - The chairman of the National Bank of Kazakhstan, Grigori Marchenko, at the meeting of the faction of the People's Democratic Party Nur Otan in the Parliament of Kazakhstan said the majority of Kazakhstan's creditors will not be affected by devaluation of tenge, the agency reports. "Debt amount in KZT in total amount of bank loans to the people is 64% that is those who received loans in tenge, which is almost two-thirds of the population, will not suffer from devaluation," the chairman of the National Bank said. "Tenge loans in the structure of loans to legal entities make up 52% and 48% for foreign currency. The majority of legal entities - our exporters, whose earnings are also in foreign currency, and this part of the borrowers, of course, will not suffer from devaluation," G. Marchenko said. According to him, in 2008 total loans granted in national currency are amounted to 575 billion KZT and only 156 billion - in foreign currency.

Resourse: Kazakhstan Today

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