BAKU, Azerbaijan, Jan.27
By Natavan Rzayeva - Trend:
Uzbekistan placed government bonds with a maturity of 10 years on the Republican Currency Exchange, Trend reports via the press service of the Uzbek Ministry of Finance.
The total volume of placements amounted to 10 billion soums ($920,639).
The weighted average coupon payment on these bonds is 15 percent per annum, which is a benchmark for a 10-year period.
In addition, government bonds were issued for 174.5 billion soums ($16 million) with a maturity of 5 years and a yield of 14.5 percent per annum.
To diversify the public debt portfolio and reduce foreign exchange risks, the Ministry of Finance is increasing the volume of government bonds issuance and taking systemic measures to develop domestic financial markets.
In November 2020, Uzbekistan issued sovereign international bonds in the amount of 2 trillion soums ($184.1 million). In July 2021 the country issued bonds in the amount of 2.5 trillion soums ($230.1 million). The term of circulation in both cases is 3 years.
Follow the author on Twitter: @NatavanRzayeva5