At the auction held on 5 February for sale of government bonds manat all dollar- denominated debt securities have been fully placed. According to the Baku Stock Exchange, the only investor, whose name was not disclosed, bought up the dollar medium-term state bonds amounting $5 million at an interest rate of 3.5%, medium-term for $7 million -at 2.77% per annum.
Manat bonds worth 20 million AZN were also sold. The Ministry of Finance will have to pay interest on them at the level of 8.79% (T-bills) and 7.79% (medium term bonds ) per annum.
The Ministry of Finance in order to cover the 2016 state budget deficit has issued bonds amounting 400 million manat and $500 million. Placement will be carried out in stages. -08D-
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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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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