Emerging Europe/CIS Roundup

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Emerging Europe/CIS Roundup

Turkey Forex Record, Kazakh Oil Investment

Turkey's foreign exchange reserves jumped by $5 billion to a record $56.2 billion as of February 17th after the central bank bought dollars to subdue the rise of the lira. A further €750 million raised recently in the international markets will add to the reserves in coming weeks.

The Kazakh government, which plans to increase oil production to 150 million tons by 2015, said $12.6 billion was invested in the oil and gas sector last year. It didn't give comparable figures for 2004.

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