At the July 26 auction on placement of T-bills outstanding for a period of 364 days, investors submitted bids lower than exhibited in the securities trading.
According to the Baku Stock Exchange, the Ministry of Finance planned to offer bonds for the sum of 10 million manat. Five investors submitted bids totaling 7 million manat. However, they intend to get their yield at the level of 12% to 20% per annum. The Ministry of Finance did not agree with this.
In another auction on placement of bonds with a maturity period of six months, the Ministry of Finance placed only one-third of the securities offered for sale (15 million manat at face value).
Seven investors submitted bids totaling 25.2 million AZN and expect to get a return on the level of 6% to 26.1% per annum. By results of trades the Ministry of Finance has placed bonds worth a total of 4 million 781 thousand manat at face value. Yield to the bonds ranged from 7.9% to 10.9% per annum. 08D
Economics
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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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