The devaluation of the manat (amounting to 34% of 21 February) cannot be a basis for the restructuring of loans.
According to the order №11 / 4 dated February 26, CBA Chairman Elman Rustamov, published the day before, the relevant amendmentswere made to the Rules of classification of assets and formation of reserves to cover losses.
In accordance with the innovation, assets restructured until February 23 this year are recognized as standard. Assets, restructuring of which became possible after February 23, cannot be classified as satisfactory. They will require additional redundancy. --17D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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