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Ceturtdiena 22.02.2018 | Name days: Rigonda, Adrians, Ārija
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Latvian residents will be able to buy state bonds

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The project, supported by the Cabinet of Ministers, which provides for the issue of Latvian state bonds, will allow Latvian residents to purchase such bonds in 2013.

The bonds will be issued and distributed based on simple conditions. This will make the purchase of bonds for individuals as simple as possible. At first, these bonds will be available for purchase on the internet. This process will gradually acquire new distribution methods, such as at Latvijas Pasts (Latvian Post) branches and credit institutions. This will make further purchase opportunities more convenient and variable, the State Treasury reports.

The issue of bonds is planned to be carried out every day with nominal value 1 LVL and minimal deposit amount 30 LVL. There will be a limit for the maximum possible deposit amount. State bonds will have a fixed interest rate which will be equal to interest rates of state securities. The initial term will be six to twelve months. It is planned to extend this term to ten years. These bonds will not be subject to secondary sale. It is, however, planned to ensure a constant pre-term buy-back opportunity (buy-back will be available at any time with loss of acquired interest money).

In accordance with the directive of the Cabinet of Ministers, the State Treasury is obligated to sign a contract with Latvijas Centrālais depozitārijs (Latvian Central Securities Depository) regarding the accountancy and registry, performing initial payments, as well as bond servicing.

As it was previously reported, the goal of the project is to guarantee a safe investment opportunity for Latvian residents and an alternative for making savings. This project is also expected to contribute to the involvement of individuals in the country’s securities market, thereby ensuring the attraction of additional funds to the country’s budget.

Ref: 104.109.109.4051


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