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Kazakh Economic Updates
Several updates to Kazakhstan’s economy from the past week:
- The IMF has upgraded its forecast for economic growth in Kazakhstan from 2.4% to 4%. However, worries about the financial sector persist. (SRI)
- Alliance Bank has had its long-term credit rating adjusted by Standard & Poor’s from ‘D’ to ‘B-’ after undergoing a massive restructuring. (SRI)
- KMG Transcaspian, a subsidiary of state-owned KazMunaiGas, has announced a joint tender with Azerbaijan’s SOCAR for a feasibility study for a transcaspian oil transit study.
- Russia’s Sberbank will decide on whether to acquire troubled BTA Bank in 2010 according to statements from the head of Sberbank German Gref. The chairman of the state holding and investment company, Samruk-Kazyna, said that only “serious” financial institutions with “capital exceeding $7 billion” will be considered in the sale. (SRI)
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