ArmInfo."The international press continues to voice high assessments of the economic policy and reforms of the Armenian government," RA Prime Minister Nikol Pashinyan wrote on his Facebook page.
According to the Prime Minister, along with the new political image of Armenia, a new economic image of the republic is being formed showing Armenia as an attractive country for investments, in which international investors are interested.
He re-posted the publication of Reuters on the site of one of the three main US stock exchanges - NASDAQ.
Yesterday ArmInfo reported the publication of Reuters on nasdaq.com under the heading "Economic reforms put Armenia on radar of yield-hungry investors". According to the authors of the publication, economic reforms have brought Armenia into the field of view of investors craving for income. "A fourfold excess of demand over the offer for the purchase of Armenian sovereign bonds in international markets testifies to the newly acquired attractiveness of the tiny former Soviet republic among investors eager for negative interest rates in the world," a Reuters analytical article says. As noted, after a government focused on reforms was created last year as a result of peaceful protests, the Armenian economy began to grow faster than neighboring oil-rich Azerbaijan. According to the authors of the article, the new government supported investors who were ready to "lend to an impoverished, landlocked country with a population of three million." As Igor Rapokhin, a FI Strategist at VTB Capital, said in an interview with Reuters, this year Armenian bonds exceeded many of their regional counterparts, which is a sign that investors who bought them clearly trust the reforms being carried out. "After the 2018 revolution, hopes were formed that the new government would move decisively through structural reforms and, in particular, to fight corruption," said Liza Ermolenko, European economist at Barclays, to Reuters. According to the economist, so far the government is moving in the right direction: "the government program adopted at the beginning of this year is an example of this."
Earlier, on September 20, ArmInfo reported that the volume of applications for the purchase of Armenian sovereign bonds in international markets amounted to $ 2.5 billion. The organizer of the issue opened the application book on September 19, when it announced the start of placement of 10-year Eurobonds in the amount of $ 500 million with an initial yield of 4.625% per annum Significant prevalence of demand over supply led to a decrease in the yield rate to 4.2% per annum, and the coupon rate was 3.95%.