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 is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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