The government’s bond offer was barely not welcomed this week by banks, credit institutions and institutional investors though underwriting financial institutions bought 20 trillion rials ($46 million).
Auctions are held by CBI on behalf of the Economy Ministry to raise funds for the government’s deficit spending. Buyers of debt normally are banks, credit institutions, investment funds and institutional investors.
As banks again stayed away, underwriters bought 20 trillion rials in debt during the 38th weekly auction, the Economy Ministry’s website reported. The shortest maturity date for the latest debt offer was May 2023 at 22.53%.