OFZ: Minfin may soon resume the placement of floaters

RUSSIA ECONOMICS - Report 31 Jan 2023 by Evgeny Gavrilenkov and Alexander Kudrin

By the end of January, the Russian Ministry of Finance managed to raise about R200 bln on the OFZ market, which looks like a very modest result compared to 2022 (when the total amount of issuance reached R3.3 trln). So far, the government is sticking with cautious tactics, placing mostly fixed-rate bonds and trying to limit the size of the auction premium. Taking into account possible problems with the revenue side of the budget, borrowing may soon become an urgent necessity. The latter means that the Ministry of Finance will likely resume the placement of floating-rate paper, possibly as early as 2Q 2023.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.