On January 26 the State Securities Committee registered two issues of government bonds. Totally the Treasury expects to raise $ 500 million from investors.
According to the SSC, the nominal value of the government securities is $ 100. There have been issued 3 million short-term and 2 million medium-term bonds. SSC does not provide information about the profitability of the government securities.
Prior to that, Finance Minister Samir Sharifov said that the yield on the dollar bonds is at 2-3% per annum.
The Finance Ministry is also preparing for issuing government bonds in manat denomination.
Due to the decline in oil revenues the government has difficulties with the execution of the state budget. After more than a 100% devaluation of the manat, public and investor confidence in the national currency has fallen. Therefore, there was excitement around buying foreign currency. Issuing dollar bonds, the government hopes to attract them to the economy. ---- 08D
Economics
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