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Gold/Mining/Energy : kazakstan goldfields symbol kgfc

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To: Rob who wrote (44)	3/20/1997 2:00:00 AM
From: Rob	of 367

www site for Kazak current affairs To all (or at least those who care): I finally found a site with current info on the situation in Kazakstan. It's supported by the Open Research Media Institute in Prague, Czech Republic. They focus primarily on Russian and the ex-soviet republics. They offer analysis as well as a daily digest (all free). Their URL is: www.omri.cz. Select the daily digest section off their main page and do a search on kazakstan. They have a lot of timely reports on the current situation. Basically, in a nutshell, the country is stuggling along with economic reforms, and is desperate for hard currency. The government owes over $500 million in pensions and wages. That was the main source for the unrest reported in the Jan Strategic Investment. The president and prime minister are at odds with each other, and the president has issued an April 10 ultimatum to the prime minister (who is reponsible for the arrears crisis) to find a solution. It appears that he has responded by undertaking a sell-off a big chunk of the state oil company to foreign companies. Some of the big companies are shying away due to what they call "deep-rooted corruption in the privatization branch of the government". Smaller companies are favored. Overall, the Kazak gov't is desperate for the hard currency that its resources can provide but does not have the capital to extract them itself. Although its going through some severe growing pains, it appears the question of kazakstan's stability does not appear to be a problem. Thanks for indulging my quest for DD. PS a search in the yahoo! biz section also turned up some interesting Reuters stories on other companies operating in the country

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