Tajikistan: bonds

Tajikistan is a mountainous,landlocked country in Central Asia with an estimated 8 million people in 2013. p>

Nearly 47% of Tajikistan's GDP comes from immigrant remittances (mostly from Tajiks working in Russia)

Tajikistan's economy grew substantially after the war. The GDP of Tajikistan expanded at an average rate of 9.6% over the period of 2000–2007 according to the World Bank data. This improved Tajikistan's position among other Central Asian countries (namely Turkmenistan and Uzbekistan), which seem to have degraded economically ever since. The primary sources of income in Tajikistan are aluminium production, cotton growing and remittances from migrant workers. Cotton accounts for 60% of agricultural output, supporting 75% of the rural population, and using 45% of irrigated arable land. The aluminium industry is represented by the state-owned Tajik Aluminum Company – the biggest aluminium plant in Central Asia and one of the biggest in the world.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
TJS 23 2 019 000 000
corporate
TJS 1 20 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
National Bank of Tajikistan, FRN 16may2017, TJS - Domestic bonds 17% 40 000 000  TJS 04/18/2017 05/16/2017
National Bank of Tajikistan, FRN 17jul2017, TJS - Domestic bonds 17% 60 000 000  TJS 04/17/2017 07/17/2017
Ministry of Finance of Tajikistan, 0.99% 17jul2017, TJS - Domestic bonds 0.99% 45 000 000  TJS 04/17/2017 07/17/2017
National Bank of Tajikistan, FRN 12may2017, TJS - Domestic bonds 17% 40 000 000  TJS 04/14/2017 05/12/2017
National Bank of Tajikistan, FRN 9may2017, TJS (K172028065) - Domestic bonds 17% 40 000 000  TJS 04/11/2017 05/09/2017
National Bank of Tajikistan, FRN 6oct2017, TJS (K172182063) - Domestic bonds 17% 90 000 000  TJS 04/07/2017 10/06/2017
National Bank of Tajikistan, FRN 6jul2017, TJS (K172091062) - Domestic bonds 17% 60 000 000  TJS 04/06/2017 07/06/2017
National Bank of Tajikistan, FRN 2may2017, TJS (K172028060) - Domestic bonds 17% 45 000 000  TJS 04/04/2017 05/02/2017
National Bank of Tajikistan, FRN 28apr2017, TJS - Domestic bonds 13% 80 000 000  TJS 03/31/2017 04/28/2017
National Bank of Tajikistan, FRN 27jun2017, TJS - Domestic bonds 13% 120 000 000  TJS 03/30/2017 06/29/2017

Currencies

Daily indices

Type: 04/25/2017 04/24/2017 04/21/2017 04/20/2017 04/19/2017 04/18/2017 04/17/2017
Exchange Rates (Emerging Markets)
USD/TJS 8.4778 8.4890 8.4891 8.4891 8.4891 8.4891 8.4891
EUR/TJS 9.2653 9.2154 9.0803 9.1026 9.0971 9.1096 9.0300
RUR/TJS 0.1510 0.1522 0.1504 0.1513 0.1500 0.1511 0.1516
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Macroeconomic Indicators (World economy)

Monthly indices

Type Mar 2017 Feb 2017 Jan 2017 Dec 2016
Inflation Rate (World), % to the same period of the previous year
Inflation Rate (Tajikistan) 5.90 5.90 5.30 6.10
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Yearly indices

Type 2015 2014
Government Debt to GDP (World), %
Government Debt to GDP(Tajikistan) 35.90 28.34