The auction on placement of bonds in the amount of 5 million manat belonging to Azerbaijan Mortgage Fund is scheduled for 1 April. According to the AMF website, the action is carried out in the framework of the ninth issue. There are 5,000 bonds denominated in one thousand manat for each security. The bonds will be exhibited at the price of 100.6500%.
AMF has placed bonds for 3 million manat from the ninth issue. Recall, the State Securities Committee (SSC) on December 30 last year registered the ninth AMF bond issue in the amount of 50 million manat. The emission is divided into 50,000 covered bonds denominated in one thousand manat per security. The maturity of the bonds is 10 years at a rate of 3% per annum.
From 2009 to 2015, the AMF within eight issues posted bonds totaling 340 million manat.
AMF was established in December 2005 and the next March it began to issue mortgage loans. Issuance of social mortgage (maximum size is 50 thousand manat at a rate no more than 4% per annum) financed from the state budget began in January 2007 and lasted for 6 months.
Mortgage loans on commercial terms are given in manat and only to Azerbaijani citizens. Loans are granted for a term of 3 to 25 years and the maximum loan must not exceed 50 thousand manat. A loan is granted at a rate of no more than 8% per annum. --17D-
Economics
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Azerbaijan began the new year with significant hikes in gas, electricity, water, and medication tariffs, sparking widespread concern among citizens over the financial burden on households. While officials defend the measures as necessary for economic sustainability, critics warn of challenges tied to stagnant wages and pensions.
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As of January 1, Europe has ceased contract-based transit of Russian gas through Ukraine. Kyiv announced it would not renew agreements to traffic gas from the "aggressor nation" through its territory. The decision marks a pivotal moment in Europe’s efforts to reduce reliance on Russian energy, a dependency that supplied nearly 50% of the continent’s gas imports before the war in Ukraine.
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Azerbaijan's Tariff Council has approved a decision to regulate the maximum wholesale and retail prices of registered medicines, with the new pricing caps coming into effect on January 2, 2025.
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Azerbaijan's Tariff Council has approved tariffs for connecting construction sites to water supply and wastewater systems for the first time, addressing a previously unregulated sector with inconsistent charges, the council announced on January 2.
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