In the spring of 2009 we flew half way around the world to adopt a little girl in the city of Petropavlovsk in northern Kazakhstan. This blog chronicles our experiences in bringing her home. We wrote it both to keep those at home up to date on our progress and also to provide help and perspective to those who might follow behind us on the same adventure. Hopefully it accomplishes both goals.
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Kazakhstan foreign investment not so hot anymore
Posted on May 28th, 2009 2 commentsThose of us adopting in Kazakhstan tend to get 100% focused on the adoption process but it is good (I think) to pop our heads up now and then and see what is actually happening in the country itself.
“The crisis in Kazakhstan is a legacy of banks that piled on debt as the economy soared and couldn’t repay when credit dried up. Gross domestic product shrank 2.2 percent in the first quarter. Foreign investors are drawing back capital as their favorable terms with lenders evaporate, said Kieran Curtis, who helps manage $800 million in emerging-market debt at Aviva Investors Ltd. in London, including Kazakh bonds.”
It seems like Kazakhstan is having as much difficulty with their banking sector as the rest of the world.
2 responses to “Kazakhstan foreign investment not so hot anymore”
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Glad to see your daughter finally arrived. hoep the adjustment process is going well. We are still waiting….I really hope we will be called before the end of the year.
Best regards,Yael, from Paris
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Yep. She is settling in and becoming part of the family. All a matter of time now. Good luck with getting your LOI.
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