Prospects for the development of the country's economy, the reasons for the bankruptcy of the International Bank of Azerbaijan and the appeal to the New York Court are the leading topics of today's press.
The Azerbaijan writes that the development of the national economy will be stimulated by new sources. Fiscal and monetary policy should ensure macroeconomic stability. An important factor is the development of human capital and the labor market, as well as the improvement of the business environment.
The Novoye Vremya published an article under the title International Bank Collapsed through Fault of Oligarchs, But We Are to Pay. Within the framework of the recovery of the International Bank of Azerbaijan (IBA), voluntary restructuring of its obligations is announced. As a result of restructuring, the bank's debts to financial institutions will lie on the state.
Until the completion of the restructuring procedure, the foreign currency liabilities to foreign creditors are suspended. The government has already bought from IBA toxic assets at 9.93 billion manats. The bank has also received liquid funds for 1.3 billion dollars and 70 million manats.
The Yeni Musavat also writes about the affairs of IBA and its forthcoming declaration of bankruptcy. The bank took this step to help in the restructuring of its debt of $ 3.3 billion. The expert Natig Jafarli considers this a serious failure of the financial policy of the authorities.
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For years, the receding waters of the Caspian Sea have been a pressing concern for hydrologists and the general public alike. In Azerbaijan, the significant decrease in the sea's surface has become evident through the shallowing of the seabed in Sumgayit and along Baku's marine boulevard. However, recent weather patterns have brought a glimmer of hope.
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On Sunday, 19 May, variable cloudiness is expected in Baku and Absheron Peninsula, mostly without precipitation, moderate south-west wind will blow. Air temperature will be +10 +13° at night and +16 +20° during the day, the National Hydrometeorology Service reported.
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During the day of 17 May, 22 cases of theft of money from bank cards by cybercrime were recorded in Azerbaijan.
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The country's leading telecommunications company granted the opportunity for 10 students to participate in the summer internship program at the company. Azercell participated in ADA University's Employability Week. During the week, students took part in seminars, final assessments, and interviews organized by the mobile operator. As a result, 10 students were selected and granted the opportunity to participate in Azercell's summer internship program. This internship will provide students with practical skills and an introduction to the telecommunications industry.
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