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National bank of Azerbaijan and Finance Ministry approved schedule for state securities deployment

Business Materials 28 April 2006 15:33 (UTC +04:00)

Coordination council for state securities market regulation approved the schedule for deployment of state short-term bonds of Finance Ministry and notes of National Bank of Azerbaijan. Officials of Finance Ministry told Trend that state short-term bonds are planned to deploy each Monday and notes each Wednesday.

Officials of Finance Ministry and NBA also talked on the actions on the further development of state securities market. In a view of anti0inflation measures, it is suggested to expand this market and raise the demand for them.

For the year 2006 Finance Ministry registered a project of bond emission at 950bn manat, from which 150bn are already deployed. Such a bug amount of emission is linked to the 650bn manat amount assigned to cover the budget deficiency.

As against Finance Ministry National Bank is going to keep its securities (notes) in circulation in amount of 1trn manat.

Despite the equal income on state bonds (5.3% by totals of the last auction) and notes (below 5%), NBAs notes are more demanded.

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