The Financial Markets Supervision House (FMSH) registered an issue of the total amount of AZN 700 million on January 27. The first tranche of bonds (15 million manats) was placed on the Stock Exchange on February 3. Information about the bond issue was presented on February 7.
According to FMSH, the Ministry of Finance plans to place 6 million short-term bonds with par value of AZN 100 each and 1 million pieces of medium-term bonds with the same face value.
As Turan was told in the Ministry of Finance, in the first quarter of this year it intends to offer investors bonds worth AZN 80 million in 6 tranches.
According to the Baku Stock Exchange, the Ministry of Finance in 2016 attracted through 421,500,000 manats through the issue of T-bills.
Government securities are issued in order to cover part of the budget deficit. ---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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