28.05.2009, 14:25 2962

Debt of any bank is not sovereign

Debt of any bank, even with the state participation, is not sovereign. The creditors of BTA Bank were explained at the recent negotiations in London regarding re-structuring of an external debt of the bank. The chairman of the Fund of National Welfare Samruk-Kazyna, Kayrat Kelimbetov, informed during the press conference.

Astana. May 28. Kazakhstan Today - Debt of any bank, even with the state participation, is not sovereign. The creditors of BTA Bank were explained at the recent negotiations in London regarding re-structuring of an external debt of the bank. The chairman of the Fund of National Welfare Samruk-Kazyna, Kayrat Kelimbetov, informed during the press conference.

"The debt of any bank, even with the state participation, even where the state prevails, is not sovereign, that is the state is not responsible for the debts of this bank," Kayrat Kelimbetov said.

Therefore, as he said, "if the bank goes bankrupt, it is the problem of this bank, its shareholders, including, maybe, us, Samruk-Kazyna fund, but not the state's."

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