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
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