Here’s a quick update for the nine readers of my post on Kazakhstan back in April. President Double N sees signs of stabilization, according to Bloomberg and that "there is a possibility to stabilize the economy at the end of the first half. The financial sector stabilized and the construction sector revived.” The kind of thing we’d like to hear around these parts.
To make things better and to show how I called something right (for once), it seems that the IFC (international finance corporation – investment arm of the World Bank) is looking at a 10% stake in Bank Centercredit, the bonds of which we mentioned in our Kazakh post. As reported by Rencap and Interfax.
Of course, Centercredit bonds are up sharply from when we mentioned them, but still yielding around 15%. The IFC endorsement would give it a huge credibility boost.