The Central Bank of Azerbaijan has made new appointments. In connection with the transfer of the authority of the Department of Prudential Policy and Methodology to the management of the Financial Market Control House (FMCH), its head Leila Nabiyeva became the Director of the Department of International Cooperation and Communication.
The new head of the CBA Chairman Office is the head of the former Financial Monitoring Service (FMS) Adishirin Gasimov, as the FMS functions were transferred to FMCH.
Recall that in April Ali Ahmadov was appointed the Director of the CBA Market Operations Department instead of Nigar Mammadova, who was appointed by the Head of State Vice President of the Board of Directors of FMCH on March 28. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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