The issue of Tajikistan debt this month follows on from recent low-quality bond issues from Argentina, Greece and Iraq. Emerging market debt investors piled into the offering allowing the nation to issue US$500 million of ten-year bonds at 7.125%. Investors who bought in, cited the yield on offer and diversification as reasons to invest. For the B- rated (Standard & Poor’s) nation, with annual GDP of only $6.95 billion and no history of selling bonds, this issue is a big deal.
Would You Buy Tajikistan Debt?
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Tajikistan is amongst the poorest nations in Asia with annual GDP per capita of $968. The largest foreign income source is believed to be the drug trade as the nation shares a border...
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