Also known as GKO-OFZ
GKO (abbreviation for ) are short-term zero-coupon government bonds issued by the Russian Finance Ministry and trade on the Moscow Inter Bank Currency Exchange (MICEX), as well as on five other currency exchanges connected with the MICEX and located in large regional cities. The last GKO auction was held in February 2004.
~2 min read
Article
5 sectionsContents
- History
- 1998 default
- See also
- References
- External links
GKO (abbreviation for ) are short-term zero-coupon government bonds issued by the Russian Finance Ministry and trade on the Moscow Inter Bank Currency Exchange (MICEX), as well as on five other currency exchanges connected with the MICEX and located in large regional cities. The last GKO auction was held in February 2004.
==History== The issuance of a short-term, ruble-denominated bond was approved by the Supreme Soviet of Russia in February 1993. The first GKO auction was held on 18 May 1993. Foreign investors were allowed into the trade from 1996.