Georgia's first syndicated treasury bond issuance was a notable step in the development of the local debt market - Andrew Jewell
In an exclusive interview with Business Insider Georgia, Andrew Jewell, the International Monetary Fund’s Resident Representative in Georgia, assessed the Ministry of Finance’s debut GEL 400 million treasury securities issuance carried out through syndication.
,,Georgia's first syndicated treasury bond issuance was a notable step in the development of the local debt market. One of the objectives of the government's debt management strategy is to diversify the investor base. By using syndication, the Ministry of Finance was able to target a more diverse set of investors than would participate in an ordinary treasury auction. The fact that the issuance was 4.5 times oversubscribed, with significant interest from non-residents, suggests that many different types of investors see value in purchasing Georgian government debt. A more diversified investor base should help improve secondary market liquidity, which is currently limited by domestic banks' buy-and-hold strategies”, - Andrew Jewell, Resident Representative of the International Monetary Fund to Georgia.
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Georgia's first syndicated treasury bond issuance was a notable step in the development of the local debt market - Andrew Jewell
29.05.2026.22:29
In an exclusive interview with Business Insider Georgia, Andrew Jewell, the International Monetary Fund’s Resident Representative in Georgia, assessed the Ministry of Finance’s debut GEL 400 million treasury securities issuance carried out through syndication.
,,Georgia's first syndicated treasury bond issuance was a notable step in the development of the local debt market. One of the objectives of the government's debt management strategy is to diversify the investor base. By using syndication, the Ministry of Finance was able to target a more diverse set of investors than would participate in an ordinary treasury auction. The fact that the issuance was 4.5 times oversubscribed, with significant interest from non-residents, suggests that many different types of investors see value in purchasing Georgian government debt. A more diversified investor base should help improve secondary market liquidity, which is currently limited by domestic banks' buy-and-hold strategies”, - Andrew Jewell, Resident Representative of the International Monetary Fund to Georgia.
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