“In July 2017 the creditors will discuss restructuring plane of the IBA’s liabilities. If 2/3 of the creditors support the plan, the issue may be solved in the autumn”, the minister said.
According to him, a Working Group, consisting of representatives of Central Bank and government, has been created to study versions submitted by the IBA: “On May 23 IBA submitted three restructuring versions to the creditors in London. The Working Group will choose one of these versions”.
According to National Bank of Kazakhstan, in October 2014 the Single Accumulative Pension Fund invested $250 million in 10-year bonds of IBA. Yield makes up 8.25%.