Tashkent, Uzbekistan (UzDaily.com) -- On 25 October 2022, 5-year government debt securities with a total volume of 200.0 billion soums were placed in the auction held at the Republican currency exchange of Uzbekistan. The fixed coupon payment of these government debt securities is 17% per annum.

According to the results of the auction, the weighted average yield-to-maturity for order of 200 billion soums out of the total bids submitted in the amount of 295.4 billion soums bought by market participants for the purchase of 5-year government debt securities was set at 17.81%.

It should be noted that the Ministry of Finance is increasing the issuance of government debt securities in order to diversify the portfolio of public debt and reduce foreign exchange risks, and systemic measures are being taken to develop domestic financial markets.

Paragraph 35 of the “road map” on the implementation of the capital market development program in 2021-2022, approved by the Presidential Decree of the Republic of Uzbekistan from April 13, 2021 No.6207 “On measures for the further development of the capital market”, it is established to introduce into practice the conduct of long-term (5-10 years) government debt securities issuance

In the future, the Ministry of Finance will implement the issuance of government debt securities, taking into account the current situation and demand in the financial markets, based on the goals of effective management of domestic public debt and the development of local financial markets.