President Ilham Aliyev instructed the Financial Stability Council to approve and enforce the monetary program for 2017, as well as the plan of measures to ensure macroeconomic and financial stability in 2017 and the medium term.
The Council is instructed to expedite the implementation of measures to improve the health of OJSC International Bank of Azerbaijan.
On 15 July 2015 a decree was signed "On measures of improvement in relation to the preparation for the privatization of state-owned shares in the Open Joint Stock Company International Bank of Azerbaijan. For the purposes of this decree the State Joint-Stock Company Non-bank Credit Organization Agrarkredit was transferred bad assets of IBA worth over 5.6 billion manat. Instead, IBA received the same amount of money from the state budget and through the placement of bonds in the Central Bank.
* The Financial Stability Council was established on July 15 of this year. -----08D
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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