First issuance of government securities

On January 9, 2024, at the initiative of the Ministry of Finance of the Republic of Tajikistan, the presentation of the issuance terms and placement of government bonds of the Republic of Tajikistan was held, the purpose of which is to develop and strengthen mutually beneficial economic cooperation as well as create the favorable environment for familiarizing investors with financial instruments - the issue of government securities at market interest rates.

The Minister of Finance of the Republic of Tajikistan Qahhorzoda Faiziddin Sattor, Chairman of the National Bank of Tajikistan Kholiqzoda Hokim Hikmatullo, heads of relevant ministries and departments of the country and representatives of international financial institutions have attended the event.

The Chairman of National Bank of Tajikistan Kholiqzoda Hokim Hikmatullo has addressed the meeting on issues related to development of secondary securities market and stock exchanges and noted they are considered one of the important elements of the financial sector of the country’s economy, contributing to the attraction of domestic and foreign capital, the use of securities as collateral for a loan received and, in this context, the improvement of regulatory mechanisms of money circulation. It was emphasized that the creation of a government securities market and the corresponding infrastructure is regarded as one of the main conditions for the transition to a market economy, one of the leading and stimulating factors of the securities market in the country.

“This process will bring the development of the financial system to a sustainable level, ensure the stability of public debt in the long term, create favorable market conditions for the effective implementation of fiscal and monetary policies, as well as for the formation of the country’s financial sector,” said H. Kholiqzoda.

It was noted that despite the transformations in the global economy and the negative impact of external factors, some work has been done to stabilize macroeconomic indicators, reduce the impact of potential risks on the national economy, to ensure stable operations of the banking system, and improve the investment climate.

It should be noted that in this direction, the Ministry of Finance of the Republic of Tajikistan and the National Bank of Tajikistan carried out a number of large-scale reforms aimed at ensuring the stable development of this market, in particular, laws and relevant regulations were adopted, and the creation of infrastructure that complied with international standards was ensured.

In the final part of the speech, Chairman of the National Bank of Tajikistan Hokim Kholiqzoda has supported the initiative of the Ministry of Finance of the Republic of Tajikistan to issue government securities on market conditions and mechanisms and expressed the readiness of the National Bank of Tajikistan to achieve a single goal defined by the country’s top leadership, in particular, the development of the secondary securities market and attracting domestic financing.

NBT Press Division