From December 21 to 25 Central Bank of Azerbaijan (CBA) has had a currency intervention at the interbank currency market to the amount of $300 million. Therefore, CBA’s currency resources were close to $5.1 billion.
Last week (before devaluation) CBA has sold currency to the amount of $493 million at the interbank currency market.
CBA has resumed the currency sales operations at the interbank currency market on December 8, 2015 after the Azerbaijan State Oil Fund has suspended the currency sales.
From December 8 to 11, 2015 CBA has sold $255 million at the interbank currency market. During the past two weeks the volumes of sales of CBA totaled $748 million.
Since September 1, 2014 CBA’s currency resources reduced by $10.2 billion.—0—
Economics
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Azerbaijan is set to significantly increase the proportion of electricity generated from renewable sources, currently standing at 14.4%, Deputy Economy Minister Samad Bashirli announced on Thursday at the Think Tanks Forum of the Organization of Economic Cooperation (OIC) held in Baku.
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Azerbaijan has entered into a partnership with Italian energy firm Technip Energies SpA to implement a pyrolysis oil production project aimed at enhancing waste recycling and promoting sustainable development, officials said on Tuesday.
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Belarus and Azerbaijan signed multiple cooperation agreements on Tuesday following talks between Belarusian Prime Minister Roman Golovchenko and Azerbaijani Prime Minister Ali Asadov during Asadov’s official visit to Minsk on October 3.
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Azerbaijan's state borrowings continue to increase, despite the country still benefiting from high global oil prices. The Ministry of Finance of Azerbaijan reported that as of the first half of 2024, the country's state debt amounted to 25 billion manats, which corresponds to 21% of its Gross Domestic Product (GDP).
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