Energy in Azerbaijan

[HyeSocialist]

Re: Energy in Azerbaijan

LOL

Azerbaijan to get $ 4 billion from the IMF and World Bank

Economics. Azerbaijan holds negotiations with the International Monetary (IMF) Fund and the World Bank (WB) on allocation of 4 bln loan package, the IMF representative told “Financial Times”, APA reports.

According to him, the IMF and the World Bank delegation will arrive in Baku to discuss the loan package with Azerbaijani government within Jan 28 – Feb 4.


Enjoy the loan fukwits

They won't take the loan yet IMO. IMF and WB loans come with conditions of actual reforms and liberalizing your economy. It's hard to think that the hard headed thinking that got them into this situation will be reversed over night.

If anything this should be a really important signal to Armenia and the oligarchs. In a way, the monopolization in Armenia's economy will lead to similar fissures in the economy.

[Shant03]

Re: Energy in Azerbaijan

If anything this should be a really important signal to Armenia and the oligarchs. In a way, the monopolization in Armenia's economy will lead to similar fissures in the economy.

[armnuke]

Re: Energy in Azerbaijan

Their finance minister came out today saying that a $4B loan is out of the question and that Azerbaijan is a country that gives loans to other countries. LOL

[armnuke]

Re: Energy in Azerbaijan

Azerbaijan's decade-long boom is well and truly over.
The oil producing central Asian country has been slammed by the oil price crash and is now considering asking for an international bailout.

Experts from the International Monetary Fund arrived in the capital Baku on Thursday to find out just how bad the situation has become.
"The team will discuss areas for technical assistance and assess possible financing needs," an IMF spokesperson told CNN.
A senior Azerbaijani official told CNN the government is thinking about an emergency loan of $4 billion to help it cope with the collapse in global crude oil prices.
Still, it may have other options. The country has about $30 billion dollars in its sovereign wealth fund -- money it saved for a rainy day, the official said.
Azerbaijan is one of many oil producers brought down by collapsing prices. The oil sector alone makes up around 37% of Azerbaijan's GDP, and nearly 90% of its exports, World Bank data shows.
It's currency, the manat, has lost 52% against the dollar in the last year.
President Ilham Aliyev spoke about the situation at a CNN panel in Davos last week, calling the low oil prices "psychologically difficult."
Azerbaijan's economy grew by more than 4% last year but the IMF expects growth to slow sharply to just 2.5% in 2016. Despite the growing economy, the government had to run a budget deficit of almost 8% of GDP last year, according to the IMF.
That represents a massive reversal of fortunes -- the country was used to huge budget surpluses even at the height of global financial crisis.
It has experienced stunning growth over the last decade -- its economy grew 34.5% in 2006 alone. The poverty rate dropped by almost 50% between 2001 and 2013.
Oil production peaked at just more than 1 million barrels per day in 2009 and 2010 but has since declined to about 800,000 barrels per day.
-- CNN's Chris Liakos contributed to this report.

http://money.cnn.com/2016/01/28/news/economy/oil-default-azerbaijan-bailout/index.html?sr=twmoney012816oil-default-azerbaijan-bailout0729PMVODtopLink&linkId=20753350

[HyeSocialist]

Re: Energy in Azerbaijan

Their finance minister came out today saying that a $4B loan is out of the question and that Azerbaijan is a country that gives loans to other countries. LOL

We should encourage them to keep thinking like that. Make them burn more reserves. They probably won't take the money for another 3 months.

[Joseph]

Re: Energy in Azerbaijan

Their finance minister came out today saying that a $4B loan is out of the question and that Azerbaijan is a country that gives loans to other countries. LOL

HAHAHAHAHA!!!! ...he's crazy...but he's got moxie.

[londontsi]

Re: Energy in Azerbaijan

Azerbaijan's decade-long boom is well and truly over.

.... It has experienced stunning growth over the last decade --

its economy grew 34.5% in 2006 alone.

The poverty rate dropped by almost 50% between 2001 and 2013.

http://money.cnn.com/2016/01/28/news...inkId=20753350

If you want to predict the future play the tape backward.

.

[Artashes]

Re: Energy in Azerbaijan

HAHAHAHAHA!!!! ...he's crazy...but he's got moxie.

An old Italian friend tried to teach me the meaning of "moxie" 40 years ago. It took me a number of years after his attempt before I realized what he was trying to teach me.
I don't think moxie is what that mouth exhibited.
I'd choose ... Vanity.

[Joseph]

Re: Energy in Azerbaijan

Armenia is not in great shape economically but in one huge aspect, the Azeri war rhetoric and bloated defense spending is really starting to bite them in the ass; While Armenia spends wisely and gets arms at a deep discount, the Azeris will no longer be able to spend nearly what they used to but will still be forced to keep spending in order to offset Armenia's purchases. The tried to use the spending strategy against us to make themselves feel superior for what they couldn't gain on the battlefield, to build their morale and pressure Armenian but the tables are turning- their strategy has bit them in the arse.

[Azad]

Re: Energy in Azerbaijan

Make them burn more reserves.

Do you really believe they have any reserve left with aliyev's high maintenance wife and daughters? That reserve is fictitious to fool the Baboon population.