Baku, Azerbaijan, January 24
By Anvar Mammadov - Trend:
The Azerbaijani government in 2016 plans to issue manat and dollar bonds for placing on the domestic stock market, Finance Minister Samir Sharifov said in an interview with ANS TV channel.
According to the minister, the yield on manat bonds will exceed the rate of inflation for this year and will be about 11-12 percent, the interest rate on dollar bonds - 3 percent.
"The main goal of issuance debts in manats is to increase confidence in the national currency and to attract household savings to the market. At the same time, in order to prevent the outflow of funds from the banking sector the yield on dollar bonds will be lower than the interest rate on bank deposits," Sharifov said.
He also noted that the foreign currency, which population has, can not be used.
"That is why we propose this mechanism, when the money will be in circulation, and it will generate income. Storing a large amount of currency in the house is risky. Therefore, we must think and not succumb to the hype. People change their last manats for US dollars. So what to do with them then? Therefore, we should not panic. The market is stabilizing, and will continue to", Sharifov added.