Media Review for March 18, 2020

The fight against the Corona Virus pandemic, the perceived effects of liquidity, and entrepreneurs' expectations of bank benefits are the topic of today's media.

The newspaper Azerbaijan writes about the fight against the Corona Virus pandemic worldwide. It is amazing that the modern world with its innovations and technologies has proved powerless against this virus. WHO has officially announced that there is no cure for this virus. Preventive measures are important here, as countries with such measures have less prevalence. The author believes that Azerbaijan is one of such countries.

The Bizimyol.info website is discussing with an expert, Natig Jafarli, the FED decision to lower the dollar discount rate to 0-0.25%. In parallel, banks in all developed countries lowered interest by announcing hundreds of billions of stimulus measures. These measures were designed to mitigate the harm caused by coronavirus, but the expected results have not yet been obtained.

The expert believes that these measures will do more harm than good, since an abundance of money supply can create problems that cannot be solved. An abundance of liquidity also creates problems.

The website Oxu.az writes about the situation with entrepreneurship in connection with the Corona Virus, discussing this issue with expert Elshad Mammadov. Of course, what is happening creates certain problems in production - especially for those entrepreneurs who work with business loans, because the solvency of loans has greatly decreased.

Currently, in the world, banks have postponed the payment of loans for entrepreneurs for three months. There is no clarity on this issue in Azerbaijan yet. The expert believes that we must do the same.

The website Azpolitika.info also discusses the issue of bank loans to businessmen with MP Igbal Mammadov. The situation in connection with the Corona Virus will greatly affect the economy of Azerbaijan.

The authorities should support entrepreneurs, as it is currently difficult to repay loans. After the restoration of economic activity, the situation with the payment of loans will improve.

 

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