Kazakhstan’s Government mulling a Eurobond issue

Kazakhstan’s Government doesn’t rule out issuing sovereign Eurobonds this coming September, Newskaz.ru reports, citing the country’s Finance Minister Bolat Zhamishev as saying July 23. In his turn, when speaking at the government sitting, Erbolat Dossayev, Minister of Economic Affairs, briefed that the country’s international reserves grew 4.1% in the H1 2013, reaching $89.6 billion. He elaborated that the assets of the National Oil Fund made up $63.5 billion, 9.8% up against the start of the year. The National Fund of Kazakhstan was created in 2000 as a stabilization fund that accumulates windfall revenues from oil sales and ensures the economy of Kazakhstan will be stable against the price swings of oil. The assets of the National Fund assets are monitored by the National Bank of the Republic of Kazakhstan.