Auction on placement of interest, secured registered non-documentary bonds of the Azerbaijan Mortgage Fund (AMF) in the amount of AZN 5 million took place October 28, 2013 at the Baku Stock Exchange.
Ten papers were put up for sale at the current price of 100.1167 %. If the claimed amount of bonds was AZN 5 million, demand for them from one trader was AZN 5.1 nillion at face value. The entire amount of bonds for the auction was fully invested.
The issue prospectus of the Fund's bonds for a total amount of 20 million manat was registered by the State Securities Committee at the end of September 2013. The nominal price of the bonds is equal to 1,000 manat, the interest rate is 3 % per annum and the maturity date is August 23, 2023. By today they have placed 50% (AZN 10 million) from this issue.
In 2009-2013, Mortgage Fund has placed issues for AZN 55 million, AZN 75 million, AZN 60 million, AZN 20 million, AZN 30 million and AZN 40 million. - 15D -
Economics
-
Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
-
Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
-
Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
-
In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
Leave a review