Pavlodar buying blow

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Pavlodar buying blow

The bank, BTA, said it would pay only interest to foreign creditors, who lavished the country with loans during the commodity boom. Rather than raise money through deposits, banks chose in fact to borrow from international lenders, and did so excessively. Those lines of credit dried up in Kazakhstan, given the risky nature of doing business in the country, plunging it further into recession. But to shore up its finances the government is seeking new oil deals. MMG has estimated crude oil reserves of 1. Kazakhstan holds over 3 per cent of the world's proven oil reserves. With the worldwide economic crisis, China can use its currency reserves, the largest in the world, to help cash-strapped commodity producers. Donate now. Support AsiaNews. Geographical areas. Central Asia Kazakhstan. North Asia Mongolia. East Asia China. North Korea. South Korea. Hong Kong. South West Asia Armenia. South East Asia Brunei. East Timor. South Asia Afghanistan. Sri Lanka. Middle East Saudi Arabia. United Arab Emirates. Freedom of religion. BTA can only pay interest on loans. The crisis caused by falling energy prices and some unsound investments is forcing the government to seek financial deals. China is taking advantage of the situation by providing billions in exchange of oil. Flushed with money, energy-hungry China is taking advantage of the situation. Printable version. Asia Today. National online registry for Indian students kicks off amid controversy. Scores of Afghan migrants killed while Tehran and Kabul negotiate repatriations. Israel bombs Beirut. What will Prabowo Subianto's Indonesia be like? Election polls put Japan's Liberal Democratic Party majority at risk.

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Pavlodar buying blow

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Pavlodar buying blow