At the May 3 auction of state short-term bonds the Treasury yields fell by several percentage points.
According to the BSE, 7 investors provided 14 applications. For these applications the demand was 44.4 million manat, while the offer was 20 million AZN.
Following the auction, the maximum yield of the bonds was 12% and the average was 11.55%. In April, several investors could buy bonds at 15% yield.
The maturity of the bonds is 3 months.
Placement of government bonds began in January of this year. Totally the Ministry of Finance with the aim of placing in Azerbaijan issued bonds worth 400 million AZN and $ 500 million. --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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