Gubad Ibadoglu: If CBA Does Not Really Rely on Diversified Economy, Azerbaijan Will Face Third Wave of Devaluation
The head of the Central Bank of Azerbaijan Elman Rustamov said that the floating exchange rate of the manat does not mean lack of its control. CBA has already held its first auction in the market for the sale of currencies, with the operational framework. Now, it will offer the market currency in portions, tracking how supply and demand are formed.
Commenting on the statement, the Doctor of Economy Gubad Ibadoglu said that the central bank acts within the futile practice of spending currency reserves. About the same method was adhered to by the Central Bank of Kazakhstan, but it had the levers of real economy and won over time, making advancing steps two years ago.
If the CBA does not really rely on a diversified economy, the country will face the third wave of devaluation, the expert believes. --17D-
Economics
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
-
Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
Leave a review