BAKU, Azerbaijan, Mar.10
By Zeyni Jafarov – Trend:
The issuance volume of government bonds by the Azerbaijani Finance Ministry exceeded 1.6 billion manat ($940 million) in 2020, the report of the Cabinet of Ministers for the past year stated, Trend reports on Mar.10.
According to the report, this figure indicates the growth of the market by 500 million manat ($294.1 million), or 42 percent compared to 2019.
In 2020, 36 auctions for placement of government bonds and one closed placement were held in Azerbaijan. As a result, the primary securities market grew by 77 percent compared to 2019 - up to over 1.16 billion manat ($680 million). Meanwhile, the secondary market decreased by one percent, amounting to 521 million manat ($306.4 million), the document also noted.
Besides, in 2020, for the first time in the Azerbaijani capital market, the issuance of five-year government bonds began. The total value of these securities in the mentioned year surpassed 22.6 million manat ($13.3 million).
Last year, the Central Bank of Azerbaijan, given the recommendations of the International Organization of Securities Commissions (IOSCO), which sets international standards in the securities market, to reduce the impact of the current situation on capital market intermediaries, issuers and investors and create additional incentives, presented an action plan thereby providing market participants with regulatory holidays.
(1 USD = 1.7 AZN on Mar.10)
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