YEREVAN. – Armenia’s short-term state bond market is gradually coming out of the tumultuous situation in late December 2011 and early January 2012. And this is corroborated by the results of Monday’s auction.

According to the Finance Ministry’s statement, AMD 500-million (approx. US$ 1,293,100) worth bonds, with a 26-week maturity, were distributed in the case when the demand was close to AMD 2 billion (approx. $ 5,172,400).  

The average profitability of the bonds was 9.5 percent, which is considerably less than the record-breaking 11 percent recorded on January 9.

As of January 31, the domestic state debt in terms of short-term state bonds alone comprises nearly $76 million, whose average profitability is 9.28 percent.