The head of the International Monetary Fund (IMF) in Azerbaijan Mohammed El Gorchi recommended leadership of the Financial Market Control House (FMCH) taking measures for the recovery of the local banking system.
This was announced after the meeting of the FMCH Board Chairman Rufat Aslanli with the mission. The guests were also informed about plans to reform the financial and banking system. They were given full information on the current situation as well as about the challenges and problems.
The sides also discussed the possibility of cooperation in the financial system, and technical assistance to the prospects of joint activity. --17D-
Economics
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The volume of cargo transported along the Trans-Caspian International Transport Route (TITR) surged by 62% in 2024, reaching 4.5 million tonnes, Kazakhstan’s Prime Minister Olzhas Bektenov said during talks with his Georgian counterpart Irakli Kobakhidze on Wednesday, according to the Kazakh government’s press service.
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Azerbaijan’s Small and Medium Business Development Agency (KOBİA) held a Supervisory Board meeting on Monday, chaired by Economy Minister Mikayil Jabbarov, to review the agency’s 2024 performance and set priorities for 2025.
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In January 2025, the average price of the consumer basket (CB) compiled by the Turan agency in Baku, which includes 30 types of essential domestically produced food products, increased by 0.3%.
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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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