finances in Caucasus

ADB may grow bank’s portfolio in Georgia

Georgia’s Finance Minister Mamuka Bakhtadze met with the President of Asian Development Bank (ADB) Takehiko Nakao at the 51st Annual Meeting of ADB in Manila, the Philippines. "We had a very …

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Georgia to receive 250 million euros for reforms

Germany plans to allocate more than 250 million euros for energy, infrastructure and communal reforms in Georgia, the country's Finance Ministry said. The framework agreement on financial cooperation between the governments of …

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Ilham Aliyev increases personal scholarships

President of Azerbaijan Ilham Aliyev signed a decree on Feb. 22 to increase the personal presidential scholarship and amend the decree "On establishment of a personal presidential scholarship", dated June 11, 2002, Azvision.az …

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IMF mission sums up results of its visit to Georgia

Georgia’s economic activity performed better than expected, with the economic growth of 4.8% in 2017, according to the International Monetary Fund mission, which visited Georgia last week to discuss recent economic and financial …

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Ramzan Kadyrov explores bitcoin market

Chechen leader Ramzan Kadyrov wrote in his Telegram today that he bought bitcoins. "I have already said that the blockchain technology would be introduced in the Chechen Republic. I'm also interested in innovative payment …

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Azerbaijan's minimum wage increased to 130 manat

Azerbaijani President Ilham Aliyev has signed an order to increase the minimum wage. The decree stipulates that the minimum wage is set at 130 manat ($76.47) from January 1, 2018.  The Cabinet of …

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 IMF gives Georgia budget 2018 recommendations

The International Monetary Fund recommended the Georgian government to reduce capital spending, including in wages of officials. According to the First Review of the Extended Arrangement under the Extended Fund Facility for …

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IMF Regional Director holds talks in Georgia

Today, Deputy Prime Minister of Georgia, Finance Minister Dmitry Kumsishvili is holding a meeting with the IMF Director of the Middle East and Central Asia Department, Jihad Azour. The leaders discuss ‘’the fund's …

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 Lari rate stabilizes, Dmitry Kumsishvili says

First Deputy Prime Minister, Finance Minister of Georgia Dmitry Kumsishvili assured the residents of the country that the depreciation of the national currency was a temporary phenomenon. According to him, stabilization is observed now. …

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IMF Regional Director to visit Baku on September 13

The IMF Director of the Middle East and Central Asia department, which includes Azerbaijan, Jihad Azour will pay a one-day visit to Baku on September 13. Azour’s first visit to Azerbaijan will be of a awareness-raising nature, the …

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EBRD president due in Azerbaijan

President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti will visit Azerbaijan on Sept. 7-8, the EBRD head office told Trend Sept. 5, Trend reports. “This visit underlines EBRD’s commitment …

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Armenia continues to lose money - media

The capital outflow from Armenia amounted to $356,683,000 in Jan-May 2017, which is more than that of the same period a year before by $42.6 million, the Zhoghovurd newspaper writes. It has become known from official sources that the …

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 Azerbaijani President meets VTB Bank President

Azerbaijani President Ilham Aliyev has received the President and Chairman of the Management Board of VTB Bank Andrey Kostin. At the meeting they emphasized the excellent organization of the …

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Georgia declares war against dollar

Georgia's government and the National Bank are planning steps to ease the pressure on the lari currency, including taking some of the burden off individuals repaying dollar mortgages and banning online credit services. Georgian …

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 Armenian Central Bank cuts refinancing rate

Armenia’s Central Bank decided to cut the benchmark refinancing rate by 0.25 percentage points to 6.5%.  It is the seventh consecutive cut of the benchmark rate by the regulator within this year.  In February, …

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