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's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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