Residents of Azerbaijan may have to pay off more credit than bargained for

Residents of Azerbaijan may have to pay off more credit than bargained for Vuqar Bayramov: “2.5 million citizens have bank debt, or approximately one fourth of the country’s population”. The Constitutional Court of Azerbaijan has delivered a verdict concerning a disagreement between borrowers and banks on how to pay off dollar-denominated loans – according to the old exchange rate or the new one. The Court verdict stated that the public will... Read More

Tracking the Discount Rate Cut in Azerbaijan

Tracking the Discount Rate Cut in Azerbaijan The Central Bank has lowered its discount rate from 5.00% to 4.75 % starting this week. According to the Central Bank, taking into account the optimal level of inflation, this step will lead to a decrease in inflation rates and thereby support economic growth in non-oil sectors.  The bank said that the targeted inflation rate would maintain currency stability and increase the money supply appropriately.... Read More