Media Review - September 5, 2018

The activities of the "Anti-Dollar Coalition", the current position of the dollar in the world, the actions of the Baku Mayor's office on demolition of housing, and the reduction of the currency reserve of the Central Bank are topics of today's media.

The newspaper Azerbaijan writes about the "Anti-Dollar Coalition", the ranks of which are expanding and replenishing. The global advantage of the United States, the author writes, became possible not only in view of America's military power, but also the adoption of the US dollar as a world reserve currency.

Among economists, the opinion is formed that in the coming years the power of the dollar will be weakened. One of the main arenas of this struggle will be the energy sphere.

The sale of oil for US dollars by Saudi Arabia marked the beginning of the world power of the dollar. To create a parallel financial system, it is necessary to mobilize all efforts, and if it succeeds, the US position in the world will radically change. However, so far the position of the dollar is incomparable with the positions of the Russian ruble, Chinese yuan, Iranian rial or Turkish lira.

The website Marja.az writes that the message "we will refuse the dollar" is increasingly propagandistic. This question is commented on by the expert Vugar Bayramov.

Previously Iran and Russia, and now Turkey, actively encourage everybody to abandon the dollar. Such appeals were made earlier, the expert notes, but they were all unsuccessful. Currently, 62.7% of assets are stored in dollars, and 20.2% in euros. The rest of the assets are divided between Japan and the United Kingdom.

The website Modern.az writes about the decision of the capital's mayoralty to demolish illegal buildings along the streets of Baku. Member of the Parliamentary Committee on Legal Policy and State Building Tahir Kerimli argues that no citizen of the country can illegally build something, and the corresponding permission, in any case, was received in state structures. Therefore, the people should be paid compensation.

The Novoye Vremya newspaper writes that the currency reserves of the Central Bank of Azerbaijan as of September 1 this year amounted to $ 5,503.5 million. Reserves of the CBA after four-month growth again fell by 43 million in one month.

Only with the extremely ineffective policy of the regulator, it is possible to reduce the savings in this amount, taking into account the influx of tourists and current oil prices.