Governor of the National Bank of Kazakhstan Yerbolat Dossayev has reported today on the debt relief instruction implementation during an enlarged meeting of the Government chaired by the President of the Republic of Kazakhstan, Kazinform correspondent reports.

President Kassym-Jomart Tokayev asked Yerbolat Dossayev how the work is being done in the furtherance of his instruction to reduce the debt burden of the insolvent citizens.

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«We divided the current work into two blocks. The first block is associated with the verification of those groups of the population which have been included in the zone of our support. With the Ministry of Labor and Social Protection, this week we will complete the work on the verification of the database. Starting next week, before the end of July, contracts will be preliminarily signed between second-tier banks and microfinance organizations and the Troubled Loans Fund. We believe the necessary payments to the banks will be completed before September 1. The State Credit Bureau will confirm for all citizens who are on the list of support in writing off up to KZT 300,000. The matters related to fines and penalties - this work will be completed before August 1,» Yerbolat Dossayev replied.

«The Government and the Presidential Administration should closely monitor the work. We announced this move. And I emphasize: it is a one-time move. Further on, we will not be able to get carried away by such measures, we have no right to. However, what we have announced to entire people must be fulfilled on time and in a quality matter,» the Head of State instructed.

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• Kassym-Jomart Tokayev
• Kazakhstan