Georgian Treasury Bills Market – first steps and discovered problems (1997 – 1999)

Abstract

In this article is shown the historical trends of Georgian State Securities market and its tools - Georgian Treasury Bills and Georgian Treasury Bonds. We have described the starting point of Georgian state securities market, its volume, turnover, short and long-term securities and its peculiarities. The mission of this Article is to show the mistakes and obstacles of the market, its tendency and rates, state policy, rules, participants and market transparency. Here is shown the past conditions, obstacles and importance of State Securities for the country development and for the investment attractiveness.