details added (first version posted at 11:56)
Baku, Azerbaijan, May 25
By Anvar Mammadov - Trend:
The European Bank for Reconstruction and Development (EBRD) is ready to start issuing bonds denominated in Azerbaijani manat, Suma Chakrabarti, EBRD's president, said at a press-conference in Baku May 25.
Chakrabarti said that the process of issuing Azerbaijani manat-denominated bonds in 2016 was fully prepared.
"We are ready to begin issuing Azerbaijani manat-denominated bonds in 2016, all regulatory actions have been already taken," he said. "But the market conditions must be appropriate."
"While starting to issue bonds in the national currency not only in Azerbaijan, but also in other countries, it is important to understand whether the market is ready, whether it corresponds to this process and whether it will accept these bonds," he said.
The bonds will be sold within Azerbaijan and the issue of the bond delivery to the foreign markets can be considered in the future.
The EBRD has so far allocated the loans totaling $2.9 billion to Azerbaijan for implementation of 164 projects, including 154 private sector projects.
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