YEREVAN, April 13. /ARKA/. Armenian government bonds will be available soon for electronic trading through stock exchange, finance minister Vardan Aramyan said at a government meeting on Thursday.
According to him, considering the ambitions of the government to achieve higher economic growth than the budgeted 3.2%, the ministry of finance wants to put the focus on the development of the capital market.
In his words, trading the government bonds through the stock exchange will also increase competition and liquidity of domestic debt. He added that electronic trading of bonds will launch on April 26.
According to the minister, under changes, buyers will not have to make initial deposits to be eligible to participate in auctions.
According to him, the more bids are submitted for the purchase of bonds, the more effectively the government debt quotes will be formed, and given that they are a benchmark for other financial instruments, interest rates in the financial system as a whole may decrease.
"An effective electronic platform for buying state bonds by individuals has also been created, in particular, they can use their credit cards to buy bonds from their homes," Aramyan said.
According to the data of the Armenian Stock Exchange, some 117 transactions with government bonds worth 13.38 billion drams were effected in the first quarter of 2017, while in the first quarter of 2016 only 75 transactions were effected to the tune of 3.34 billion drams. -0-