The Kyrgyz Ministry of Finance conducted the placement of 100 million soms from the stabilization account into deposits of commercial banks through an auction. This process covered two terms — 6 and 9 months.
As a result of the trading, the weighted average interest rate was 15%. At the same time, the minimum and maximum interest rates turned out to be identical. The total amount of placed funds was 100 million soms.
The funds from the stabilization account are under the control of the Ministry of Finance. The settlement bank for these operations is a commercial bank with a state share, which provides technical support on behalf of the ministry.
The Ministry of Finance emphasizes that the funds from this account can be used not only for servicing the state debt but also for investing in financial assets. In particular, the placement of funds in bonds of top-tier listed companies and in foreign government and corporate bonds is permitted.
Investing funds in bank deposits is part of the strategy for effective management of temporarily free budget resources aimed at increasing profitability while ensuring the necessary level of reliability.
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