Press Review 12/26/15

Official newspapers write about Ilham Aliyev's participation in the opening of several electricity sub-stations in the Khazar district.

The same newspaper publishes an article by Foreign Minister Mammadyarov, where he called successful the results of 2015 for Azerbaijan.

Azadlig

Under arrest, the former head of the International Bank Jahangir Hajiyev made a statement in which he accused the Minister of Finance Samir Sharifov of many financial problems of the IBA.

Hajiyev claims that he was actually removed from the leadership and all the issues were dealt with by the Ministry of Finance, including the issuance of loans.

The PFPA activist Fuad Ahmedov was sentenced to 10 days of administrative arrest for resisting police. In fact, he was arrested for calling for the public on Facebooc to oppose the price hike.

Two devaluations this year have led to the bankruptcy of 1 million 850,000 people.

The total loss of Azerbaijani banks has amounted to 3 billion manats, and the population has lost 7 billion manats.

The company Salian Oil cut staff salaries by 33%. In protest, 300 workers staged a protest outside the company’s office in the village Kerimbeyli.

Express

The Central Bank recommends that the country's banks should reduce interest rates on loans to citizens, issued in dollars, as well as to extend the terms of loan repayment.

Yeni Musavat quotes experts that problem loans have amounted to 1 billion 300 million manats. For this reason, many banks may go bankrupt, and people’s deposits could be lost.