ASTANA – Kazakhstan has established a State Debt Management Council to improve coordination of public borrowing and develop the government securities market, the Ministry of Finance reported on Dec. 22.
The consultative body was created jointly by the Ministry of Finance, the National Bank of Kazakhstan and the Ministry of National Economy.
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The council will focus on measures to deepen liquidity and efficiency in the government securities market, lower the cost of state borrowing used to finance the budget deficit, and develop benchmark yields for the quasi-public sector and corporate issuers.
Its key tasks include coordinating public debt management decisions, supporting the development of the government bond market, and shaping issuance policy in domestic and international markets, taking into account macroeconomic conditions and debt sustainability.
The council’s key objectives include adopting coordinated decisions on public debt management, developing the government securities market, and shaping issuance policy in domestic and international markets, taking into account macroeconomic conditions and debt sustainability.
Officials view the development of a liquid and efficient government securities market as a critical element in strengthening public finance sustainability, establishing market-based yield benchmarks and supporting the broader development of Kazakhstan’s capital market.
The decision forms part of a broader set of measures aimed at ensuring fiscal sustainability and improving the balance of macroeconomic policy for 2025-2027.
