Kazakhstan plans to borrow about $2.2 billion this year from external markets to fund a series of projects, including a transport corridor from China to Europe, its finance minister said. Bolat Zhamishev told a government meeting that state-owned corporations would probably set a benchmark for foreign borrowing before the state itself would consider issuing a Eurobond or Islamic bond.
“We don’t have any need to plug a budget deficit right now,” Zhamishev said. “The issue of Eurobonds or sukuk depends on the market and the external borrowing plans of the corporate sector, so we are monitoring the situation on world financial markets.”……………………………………….Full Article: Source