2017-05-25
It is a huge success of our country and financial sector, the Prime Minister of Georgia commented on the recent issuance of 500 million GEL worth of bonds in international markets by the Bank of Georgia.
According to Giorgi Kvirikashvili, it is the first time that a Georgian financial institution issues securities in the Georgian lari.
"This means that investors in our country trust our national currency. These are three-year bonds with a coupon rate of 11%, and it is a giant step forward because it is the first time that bonds in our national currency were issued in international markets. All this means that our country's no-risk interest, that is, the interest at which the Government borrows, will be even lower. Most importantly, however, international investors trust our country and our national currency. It is a momentous event, and I would like to congratulate everyone," Giorgi Kvirikashvili said.
The Prime Minister thanked the Bank of Georgia for this important success. According to the Head of Government, the 500 m GEL will be used to finance the country's business, production, and entrepreneurs, a significant economic injection.
"Most importantly, these amounts are in the national currency, not foreign currency. In other words, investors buying these bonds know that they will be repaid in GEL that the Bank of Georgia attracts today. Thus, investors trust the national currency and Georgia, and trust the current exchange rate in the country. This means putting trust in our country. This means a step forward, and I congratulate you on this great achievement," the Prime Minister stated.
Prime Minister's Press Office