The fifth deposit auction was held by the Central Bank of Azerbaijan on July 25.
The auction received a bid to attract 50 million AZN at the weighted average interest rate of 6.99%, which fully meets the demand of banks.
It was the maximum rate, and the minimum was set at the level of 4.01%.
According to the CBA, the funds are involved for 28 days.
The first deposit auction held on June 13 attracted 129 million AZN on average weighted interest rate of 6.49% per annum instead of the planned 150 million AZN. In the next three trades the application ranged from 37 million to 45 million AZN. -0-
Economics
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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