On the December 20 auction the Ministry of Finance did not satisfy the application of investors for the purchase of 364-day maturity bonds. The investors demanded too high incomes.
According to the Baku Stock Exchange, the investors presented 10 applications totaling AZN 11.5 million at the supply of 10 million manat. The orders were submitted within the range of 15.9-23% per annum.
Bonds with a maturity period of 182 days were exposed and placed at 100% - 15 million manat. Fifteen investors paid 13 million 763 thousand manat for them. The weighted average yield on the bonds amounted to 18.2% per annum. The investors had submitted applications totaling nearly AZN 24 million. ----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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