Restructuring of BTA and Alliance Bank to resolve foreign debt problem of Kazakhstan's banks
ASTANA. August 18. KAZINFORM /Kanat Kulshmanov/ Restructuring of the Bank Turan Alem and Alliance Bank will be a way to resolve the problem of external debt of Kazakhstan's banking sector. Head of the National Bank Grigory Marchenko has made it public during the Government's telephone conference. "As of July 1 the foreign obligations of the Kazakh banking sector made USD 32 bln, while at the end of 2007 this figure exceeded USD 46 bln. Over seven quarters it has decreased by 1.5 times", G. Marchenko said. According to the Chairman of the National Bank, 40% of the external debt falls on BTA and Alliance Bank. "Once their restructuring is completed, we will fully resolve the problem of the bank's foreign debt", he added.