J.P. Morgan Places Kazakhstan Securities On GBI-EM Watch List
“Following J.P. Morgan's 2026 index classification review, Kazakhstan was assigned Index Watch – Positive status for the potential inclusion of the country's government securities in the Government Bond Index-Emerging Markets (GBI-EM),” the ministry said.
Over the next 12 months, the accessibility of Kazakhstan's government securities market to international investors will be assessed, including the possibility of access through international clearing and settlement infrastructure. The liquidity of the securities that meet the index criteria will also be assessed.
“The assignment of this status was an important result of the joint work of the Ministry of Finance of the Republic of Kazakhstan and the National Bank of Kazakhstan to develop the government securities market, improve market infrastructure and increase the accessibility of Kazakh financial instruments for international investors,” the ministry said.
The move to the next stage of consideration confirms progress in integrating Kazakhstan's government securities market into international capital markets, the ministry said.
Potential inclusion in the index is expected to broaden the foreign investor base, increase liquidity and reduce borrowing costs.
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