OVGZ (domestic government bonds) are government bonds of Ukraine issued by the Ministry of Finance. Procedure of OVGZ issuance and trading is regulated by a Resolution of Ukraine’s Cabinet of Ministers No. 80 "On issues of domestic government bonds of Ukraine" dated January 31, 2001.
Depending on the currency of the issue, OVGZ may be:
1) denominated in hryvnia:
- short-term, medium-term and long-term;
- long-term with early redemption;
- amortized.
2) denominated in foreign currency:
- short-term and medium-term;
- medium-term OVGZ with early redemption.
3) denominated in hryvnia with indexed cost:
- medium-term and long-term.
OVGZ are placed by the Ministry of Finance in primary auctions through primary dealers (mandated banks).