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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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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