Last week’s negotiations of the missions of international financial institutions with the leadership of Azerbaijan were difficult and fruitless.
As it became known to Turan from unofficial sources, in response to the request for credits, five requirements were billed: wide privatization, reduction of the state apparatus, a real judicial reform, the freezing of wages, pensions and public spending, and accession to the WTO.
According to the same source, of the five conditions the country's government agreed only to the first two. In consequence of that, the international organizations considered the issuing of loans impossible.
This gives reason to believe the government is not ready to conduct serious anti-crisis reforms.
According to the Financial Times, the Azerbaijani authorities planned to get loans of 4 billion USD from the IMF and the World Bank. However, the President denied the reports, calling them "false information from anti-Azerbaijani forces," and added that Azerbaijan does not need foreign financial assistance. -02B-
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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