Russia's Finance Ministry to offer 100 bln rbl new OFZ bonds

Russia's finance ministry said it will issue 100 billion rubles ($1.52 billion) worth of new ruble-denominated OFZ treasury bonds maturing in July, 2022.

New OFZ treasury bonds are expected to be available on August 21.

Professor of the RANEPA faculty of Finance, Money Circulation and Credit Yuri Yudenkov, speaking to Vestnik Kavkaza, noted that the popularity of OFZ depends on profitability: if it is higher than the deposit rate, then citizens will buy government bonds.

He also recalled that OFZs are long-term, their average maturity is mostly in the range of 2-4 years. "Not everyone is ready long-term investments. In general, until the economy doesn't grow, no one will invest anywhere. This is my personal position," Yuri Yudenkov concluded.