Georgian Finance Ministry to issue T-bills
Georgia, Tbilisi, Jul.30 / Trend N.Kirtzkhalia /
The Georgian Finance Ministry will issue T-bills, Treasury service Head Kakha Sekhniashvili said.
The Georgian Finance Ministry in agreement with the National Bank will issue T-bills of the ministry on Aug. 5, Sekhniashvili said. By the emission the government draws finances through auctions. T-bills represent short-term securities, which will be sold in discount and covered with a nominal value of 100 lari, Sekhniashvili said. (1.66 lari is $1).
The T-bills will be sold through auctions in the Central Bank, Sekhniashvili said.
"We are confident that this issue of T-bills will favor the development of fiscal markets in Georgia and additional fiscal stimulation of the banking sector and the economy," Sekhniashvili said.
It is planned to hold 15 auctions in the next three months. T-bills worth 95 million lari will be offered during these auctions, Sekhniashvili said.
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