Kazakhstan: State To Provide Over 500 Bln Tenge To Support Banks

Kazakhstan: State Bailing Out Yet Another Ailing Bank

(Reuters) – Kazakhstan’s central bank estimates that the state will provide more than 500 billion tenge ($1.52 billion) to support the nation’s banking system, Kazakh Deputy National Bank Governor Oleg Smolyakov said on Tuesday.

“August-September is a realistic period (for the start of the programme) with the National Bank’s funds,” Smolyakov told a news conference. ($1 = 328.3800 tenge) (Reporting by Mariya Gordeyeva; Writing by Dmitry Solovyov; Editing by Maria Kiselyova)