YEREVAN, DECEMBER 11, NOYAN TAPAN. Starting January 16, 2007, the RA Ministry of Finance and Economy will issue state bonds of new type, which are envisaged both for natural persons and small legal entities. Arshalys Margarian, Head of the State Debt Management Department of the RA Ministry of Finance and Economy, said during the December 11 press conference that bonds will have maturity of 3 months to 30 years, with their yield making a little less than the average interest rate of bank deposits (7-7.5%). Their nominal value will make over 10,000 drams (about 27 USD) and above. According to A. Margarian, the new bonds differ from old in that they will be placed not through auction but through treasury by direct sale and not for a day but with a placement term of no less than a month. It is not allowed to sell these bonds or give them as a gift but at any moment the ministry may buy them back. It was noted that the first issue will make 100-150 mln drams and may be increased in case of demand.

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