Why Kazakhstan Borrows in Yuan and Yen Explained at the Kurultai
The currency of international loans was discussed in Astana during the ratification of an agreement with the ADB
During a session of the Kurultai for the ratification of an agreement with the Asian Development Bank (ADB), the currency of international loans was discussed. Deputy Kairat Aituganov stated that the bank lends in various currencies, but currently, it is more advantageous to borrow in yuan.
Madi Takiev previously estimated the republic's budget deficit for 2026 at 4.6 trillion tenge. To cover this, Kazakhstan plans to attract over 3.4 billion yuan from the ADB—approximately 232 billion tenge at the official exchange rate set by the National Bank on November 4. By the end of the year, the country is also expected to receive around 500 million dollars from other sources.
According to Madi Takiev, the loans will be directed toward budgetary needs, including road infrastructure and healthcare. Japanese yen were previously chosen due to lower interest rates in Japan, taking into account tenge exchange rate fluctuations and currency risks.
