On May 6 , the Ministry of Finance fully deployed short-term government bonds (T-bills) in different circulation periods totaling 16 million manat. As demonstrated by the activity of investors in general demand exceeded supply by more than 5 million manat.
Bond yields, depending on the period of circulation were 1.46 % ( 35 days maturity ), 1.89 % (91 days) to 2.90 % (365 days) . Investors are local banks that are experiencing acute difficulties with the placement of funds, they told Turan in one of brokerage firms.
At the same time, brokers believe that domestic banks are quite free to buy long-term Eurobonds of the Ministry of Finance of Azerbaijan on the secondary market, which can provide higher - interest rate of 5% per annum.
From January to April, the Ministry of Finance did not issue T-bills. On May 5, three issues were issued T-bills in the total amount of 600 million manat, which is planned to place in stages.
In 2013 the Ministry of Finance placed on the T-bills market in excess of 98 million manat, which is 31% less than in 2012 . - 08B-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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