FED’s interest rate: Causes and Implications for Azerbaijan

FED’s interest rate: Causes and Implications for Azerbaijan The decision of the The Federal Reserve System (FED) of the USA has been among the most important economic news during the previous week. That is to say, following the long-term expectations, FED raised interest rates by 0.25 percentage points (making it 0.75%) . The decision of FED, which is to pose a serious impact on the future exchange rate of dollar, has been long waited in Azerbaijan... Read More

Bloomberg: Central Bank Depleted by Azeri Crisis as Oil Brings No Relief

Bloomberg: Central Bank Depleted by Azeri Crisis as Oil Brings No Relief Vugar Bayramov: “Sooner or later, the central bank will have to pull out of the market to stop the depletion of its currency reserves” The once-in-a-generation crash in oil prices sent the Azeri economy staggering into a crisis and the central bank is running out of options to stop the unraveling. Every seventh lender is now shut, the currency is testing new lows and by one... Read More

Azerbaijani Oil Fund’s reserves have declined by 5.9 %

Azerbaijani Oil Fund’s reserves have declined by 5.9 % The assets of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) have dropped by 5.86% compared to the beginning of 2015 from $ 37,104 billion US. to $ 34, 930 billion US. Budget revenues of the SOFAZ reached 2,028 billion manat ($ 1, 932 billion US with new rate) , while budget expenditures constituted 2,336 billion manat ($ 2,225 billion US with new rate) in the first quarter of 2015.... Read More