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Gold/Mining/Energy : Steppe Gold (SPE:V) -- Ignore unavailable to you. Want to Upgrade?

To: Robert Dydo who wrote (671)	2/20/1998 7:32:00 PM
From: John Menzies	Respond to of 1248

--Kazakh leader drops FinMin, says boosts reformers -comment at end 11:34 a.m. Feb 20, 1998 Eastern ALMATY, Feb 20 (Reuters) - Kazakhstan's President Nursultan Nazarbayev said on Friday he had replaced Finance Minister Alexander Pavlov with his deputy Sauat Mynbayev, and said personnel changes announced on Friday would boost government reformers. ''Sauat Mynbayev has been appointed finance minister,'' Nazarbayev said in a speech broadcast by a state television channel. He said Pavlov would retain his post of deputy prime minister and would be responsible for macroeconomics, the real sector of the economy, pension reform and regional finances. Nazarbayev also appointed an adviser to the prime minister, Kadyrzhan Damitov, as new head of the National Bank, an official of the presidential press service told Reuters. He replaces the central bank's former chairman Uraz Dzhandosov who becomes first deputy prime minister, replacing Akhmetzhan Yesimov. Dzhandosov will also head the State Investment Committee, as did Yesimov. Yesimov will head the presidential administration. ''Dzhandosov is the first deputy prime minister and the chairman of the State Investment Committee. Damitov has become the chairman of the National Bank,'' said the press service official ------------------------ Akhmetzhan Yesimov appears to have done a pretty good job. We naturally had some contact with him and he appeared very receptive to the foreign mining companies. We have been instrumental in establishing a mining company laison group in Kazakstan- purpose of which is to have input into policy matters etc - in the usual manner - positive contribution. Consists of smaller and the largest comanies operating in the country - mainly foreign. A couple of days ago we had a delegation present to the Foreign Investment committee - Akhmetzhan Yesimov and within 24 hours this group was invited to join the Mining Industry Committee. A quick response and not one we requested. Uraz Dzhandosov is a most impressive gentleman and has done a very good job at the national bank - he is widely respected for the direction he has taken with the bank and its pivotal role in turning around the high inflation economy of a couple of years ago - not an easy job in such an environment. Regards John Menzies