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The Premier: BoG's GEL Bonds Mean that Investors Trust our Country and National Currency

The Premier: BoG’s GEL Bonds Mean that Investors Trust our Country and National Currency

The Prime Minister is considering placing of 500 million GEL bonds on the international markets by Bank of Georgia (BoG) as the most important step forward.

Giorgi Kvirikashvili says that investors who make investments in our country trust the national currency.

“Denominated bond in the national currency has been fixed for the first time in the history of the international market.  It means that the rate of our country i.e. the rate borrowed by the government, will be even lower, but the most important thing is that international investors trust our country and our national currency. This is a great event I want to congratulate everybody,” – said Kvirikashvili.

According to him, attracted resource of 500 million GEL will be directed to the country’s business, financing of enterprises and entrepreneurs, which will be a very important injection in the Georgian economy.

“The most important thing is that the sum is not attracted in foreign currency but in national currency, i.e. investor who buys the bonds, he knows that the debt will be paid in GEL, which will be attracted by Bank of Georgia today. It means he trusts the national currency, Georgia and the course taken by our country. This is the country’s trust, the country’s step forward and I congratulate you on this very important success,“ – the Prime Minister said.

As it is known, GEL bonds are to be listed on the Irish Stock Exchange.