The State Securities Committee (SSC) registered the prospectuses of government securities totaling 400 million manats on January 27.
According to the SSC, the Ministry of Finance plans to place short-term bonds for 150 million manats and medium-term bonds for 250 million manats. All the securities are rated at 100 manats.
The database contains no information about the yield on the SSC securities.
Earlier, the Minister of Finance reported that the manat bonds will have a yield of 12%. The Finance Ministry hopes that the population will buy its securities, which will be used to pay off the deficit.
Also registered on January 26 were prospectuses for two bond issues by the Ministry of Finance totaling $ 500 million. ----08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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