On February 28 on the Baku Stock Exchange auction the Ministry of Finance easily placed the first package of short-term government bonds with a maturity period of 2 years.
BSE informs that 7 investors have submitted applications accompanied by an offer to buy T-bills in the total amount of 36.2 million manat. Some of the applications exceeded the starting interest rate previously announced by the Ministry of Finance by 8.8%. As a result, state T-bills were fully placed at 15%. T-bills totaling 10 million manat were bought by three investors.
This month, the Ministry of Finance plans to place T-bills with a maturity period of 728 days also totaling 10 million manat. The plans for April have not been reported.
In total this year, the Ministry of Finance issued T-bills for 700 million manat. Of these, securities in the amount of 75 million AZN on face value are planned to be placed in the first quarter of this year. ---08B
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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