At the auction on placing T-bills of a 91-day circulation term on August 2 the Ministry of Finance sold investors securities in the total amount of 15 million 186.3 thousand AZN in face value.
The Baku Stock Exchange told Turan in the course of the auction the interest rate was set on the bond yield of 6.45% per annum. The securities were partially acquired at the return level of 11.01%.
Totally the Finance Ministry auctioned bonds worth 20 million AZN at face value.
Five investors participated in the auction. Compared to the previous auction (12 July), the interest rates on T-bills rose by 1-4 percentage points. ------08D
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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