Short-term notes of the Central Bank of Azerbaijan (CBA) series 50101238S at the total amount of AZN 10 million posted in the auction, which was held March 27, 2013. Volume of accepted non-competitive bids was 800 000 manats.
The announced offer was 30 million manatl; put up for sale were notes for AZN 10 million, and the total demand for them from three investors exceeded 10.8 mln at face value. Orders were presented in price range from 99.9068% (YTM 1.20%) to 99.9032% (1.25%).
Price cut for competitive bids in the CBA at 99.9032% (1.25%) and the weighted average was 99.9055% (1.22%).
Repayment of the notes will be on 24 April 2013. At the previous auction of the Central Bank notes were sold at a price of 1.25% per annum. - 15D -
Economics
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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.
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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."
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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.
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