World Bank interested in stability of government securities market in Azerbaijan

The expert group of the "Public Debt Management and Risk Management" of the World Bank headed by Philip Anderson in order to study the situation with servicing government debt securities met on April 5 with the leadership of the State Committee on Securities. Due to the state budget surplus and low inflation Ministry of Finance has not emitted government bonds.

Deputy Chairman of the State Securities Committee Ilgar Muradov outlined the stages of development of the government securities market infrastructure, measures to improve the legislation.

The "Office of the Public Debt and Risk Management" is intended to support a healthy macroeconomic management and fiscal policy through capacity building and governance institutions of the state internal debt and risk, said Philip Anderson.

At present, the issue volume of government bonds by more than 40 editions of more than 235 million manat. Are outstanding bonds in the amount of approximately 190 million manat. Quoted price of these securities today does not exceed 2.2% per annum.

In the first quarter of this year on the BSE there were no T-bills placed. Secondary circulation of these securities was not recorded either. In 2012, the placement of government bonds amounted to 141 million manat, decreasing by 41%. - 08D-