In his interview to Financial Times Azerbaijan Finance Minister Samir Sharifov again refuted information that the Azerbaijani officials have asked IMF and WB for financial assistance.
He said the country with a very small foreign debt and a sovereign fund of $34 billion never needed such help. Minister added that IMF could allot Azerbaijan credits at the interest rates below market ones. “This is not the matter of assistance to economy, but funding and the possibility of getting cheap financing,” he added.
Minister believes that IMF could allot the country cheaper credits.
“IMF said that reduction of oil prices will positively affect global economy. This has not happened. The stigma of a needy country does not allow many countries ask IMF for help to solve a very small problem before it has turned into a really big problem,” Sharifov said.—0—
Economics
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Last year, Azerbaijan's exports fell sharply. In 2024, the country's exports amounted to $26.55 billion, while imports stood at $21.06 billion. The positive trade balance was $5.50 billion, according to the State Customs Committee (SCC).
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The final investment decision (FID) for the construction of the Shafag Solar Power Plant (SPP), based on a feasibility study, is expected in 2025, BP Vice President for the Caspian Region Bakhtiyar Aslanbayli told journalists on Friday.
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BP Plc plans to start gas production from the deep gas reservoirs of the Azeri-Chirag-Gunashli (ACG) block by the end of 2025, BP-Azerbaijan's head of press service, Tamam Bayatly, told reporters.
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In a strategic move to bolster innovation and technological advancement, Azerbaijan’s İRİA (Innovation and Digital Development Agency) and Israel Aerospace Industries (IAI) have signed a Memorandum of Understanding (MoU). The agreement aims to deepen economic, industrial, scientific, and technological collaboration between the two countries.
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