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Tajikistan Plans To Issue Eurobonds Worth $1 Billion

Friday, June 30, 2017 - 18:08

Tajikistan plans to issue government securities worth a total of $1 billion to be sold in the international financial markets. Such a proposal of the government of the republic was approved by the deputies of the lower house of the national parliament on June 20. According to Deputy Minister of Finance Jamshed Nurmahmadien, this case is about raising financial resources for the strategic project that involves construction of the Rogun HPP.


“In January 2017, a special working group was formed to negotiate with various international financial institutions, securities sale agencies, rating companies and agencies providing legal services,” the deputy minister.


According to him, these securities will be sold in the international financial markets of the United States of America, under the relevant US legislation.


“We have already managed to reach an agreement with the rating company Moody's Investors Service. In addition, we will have to receive the conclusion of at least two rating companies regarding the financial condition, GDP volume and a number of other criteria. The second rating company to negotiate with is SNP,” Jamshed Nurmahmadien said.


According to him, an agreement has already been reached with one of the companies on the issues related to the placement and sale of securities. The immediate sale of government securities will be launched in 2018.


In conclusion, the Deputy Minister of Finance said that Tajikistan has a threshold, according to which the amount of external debt should not exceed 40 percent of the country's GDP. To date, this indicator stands at about 35 percent.

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