Treasury Bond (11)


The Central Bank of Syria is reportedly considering issuing dollar-denominated treasury bonds to finance the import of energy products, a prospect that could reflect a disconnect of the financial authorities with economic and political realities.


The Ministry of Finance has authorized local insurance firms to buy Treasury securities in a bid to attract interest after an auction in March failed to find buyers. Another auction planned for April 11 was not held altogether.


The Ministry of Finance cancelled on March 14 a planned auction of SYP 1 billion worth of treasury bonds citing the uncompetitive bids received from local banks.


Syria’s first issue of Government securities this year was largely oversubscribed with yields paid to banks, well below inflation rates.


The Ministry of Finance has announced a timetable to sell SYP 30 billion worth of Government securities in 2011.


The SYP 3 billion worth of medium term treasury bonds sold by the Central Bank of Syria last week were largely oversubscribed, according to the Ministry of Finance.


The Ministry of Finance has announced that it was holding today an auction to sell SYP 3 billion worth of Treasury Bonds.


The Syrian Government will sell treasury bonds next week after an auction for short-term bills, the first in decades, was held last Monday, Mohammad Hussein, Minister of Finance, told The Syria Report.

The Syrian Cabinet has approved an increase of 10 percent in its 2010 budget to SYP 754 billion.

The Syrian President has issued a Law authorising the issuance of Treasury Securities by the Central Bank of Syria.

The text of the intervention of Abdul Kader Husrieh, Partner at Ernst & Young Syria LLP, during a banking conference held in Damascus between November 3-5