International rating agency Moody's Investors Service upgraded the long-term rating of Khalg Bank term local and foreign currency from B3 to B2 level .
As reported in the bank, the agency affirmed the bank financial strength rating of E + and Short-term bank deposits in national and foreign currency at B3/NP.
Assessing the prospects Khalg Bank, Moody's analysts noted that the improvement of the forecast is based on factors such as the strengthening of the Bank's position in the market, a high level of profitability, asset quality , strong capitalization . In Moody's expressed confidence that the diversification of financial resources , asset quality and profitability over the next 12-18 months could have a more positive impact on the bank's ratings . -15D -
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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