KAZAKHSTAN
Table B: Comprehensive Framework
External Framework

Core framework: International Investment Position

Contact Person(s):

Ms. Natalya Dyugai
Chief of the Balance of Payment and Exchange Regulation Department
National Bank of Kazakhstan
21 Koktem–3, Almaty, 480070 Republic of Kazakhstan
Telephone: (7-3272) 704-647
Fax: (7-3272) 704-642
balans@nationalbank.kz

Revision date: September 2002

I. Analytical Framework, Concepts, Definitions, and Classifications

The framework of the international investment position of the Republic of Kazakhstan is close to the fifth edition of the IMF “Balance of Payments Manual” (“BPM5”).
The methodologies of compilation of the balance of payments and of the international investment position are completely agreed.

The date are given in millions of US dollars, and they comprise data collected on a quarterly basis on direct investments, portfolio investments, other investments, and international reserves.

II. Scope of the data.

Unit Coverage

The Republic of Kazakhstan produce the complete international investment position statement.

Transaction Coverage

The international investment position is the balance sheet of the external financial assets and of the external  liabilities of residents. The international investment position also comprises operational changes and other adjustments in Position, that is why the data on flows and the data on stocks of the international accounts are completely agreed.

Geographical Coverage

The geographical territory is the Republic of Kazakhstan.

Periodicity.

Quarterly

Timeliness.

The compilation of the international investment position is released in 90 days after the end of the reference quarter. 

III. Accounting Conventions

The most parts of the financial assets and of the liabilities of the Position are recorded on a booked value basis.The adjustment of the data at market values is based on the quotations of the  Kazakhstanee Stock Exchange. The residents use the exchange rate which is accepted in order to conduct accounting in the Republic of Kazakhstan and which is formed at the end of the reference period to convert the financial assets and the liabilities of the Position into a single currency.

IV. Nature of the Basic Data Sources

Data on direct and portfolio investments are collected from state and private enterprises, from banks, from other participants in the security market, and from the Ministry of Finances on quarterly basis.

International reserves: National Bank internal sources

V. Compilation Practices

Statistical accounts of the financial assets transactions and of the liabilities transactions are the source for compilation the external economy accounts set (the balance of payments, the international investment position, and the external debt). The reports (collected from residents) are collated and adjusted with the results of registration of the transactions related with the capital movements and with the data on the exchange transaction licenses (granted by the National Bank of Kazakhstan), and checked against the information provided by banks and by other participants in the security market.

VI. Other Aspects

The international investment position is released in three months after the end of the reference period. The valuation of the international investment position could be adjusted during the following two years since its (IIP) first publication. The adjusted valuation of the IIP is released with the comments on the adjustments.

VII. Plans for Improvement

Short-term

To provide the comments on possible divergence of the data on monetary and government finance statistics.

Use of the State classifier of the payment purpose in order to cross-compare the payments/receipts passed through the banks’ accounts with the information on registered exchange transactions related with the capital movements.

Medium-term

The adoption of the single concept for the SNA accounts, balance of payments and for the monetary statistics.