The Deposit Guarantee Fund has prepared a detailed plan for the liquidation of nine failed banks – Atra Bank, Credo Bank, Bank of Azerbaijan, Gafgaz Inkishaf Bank, Tekhnika Bank, Zamin Bank, Royal Bank, Ganja Bank, and Bank Standard.
The Fund plans to send the plan to the appropriate court.
The detailed liquidation plan includes financial statements of the banks’ assets and liabilities, quarterly reports from the past and projected revenues and expenses, the report on court decisions aimed at paying the required sums and others. 71D
Economics
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Azerbaijan President Ilham Aliyev has signed a decree to strengthen social protection for pensioners by implementing pension indexation, effective from January 1, 2025.
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The Italian government has extended the deadline for applications in the international tender for the sale of several strategic assets until February 14, confirming that a bidder from Azerbaijan remains among the frontrunners.
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An investigation led by Ghalib Toghrul, Chairman of the Board of the Center for Economic Research, has highlighted budgetary expenditures in the Azerbaijani districts of Aghdam, Fuzuli, and Khojavend, focusing on civil service projects linked to the reconstruction of territories liberated from Armenian occupation.
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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