ADB Approves $500 Million Azerbaijan Loan
ADB Approves $500 Million Azerbaijan Loan

ADB Approves $500 Million Azerbaijan Loan

ADB Approves $500 Million Azerbaijan Loan

The Asian Development Bank said on Thursday it had approved a $500 million loan to help Azerbaijan tackle economic and social problems, mitigating the adverse impact of a decline in oil prices, Reuters reported. The slide in the price of oil, which with gas accounts for about 75% of state revenues and 45% of gross domestic product, hit growth, the budget, the balance of payments, the manat currency and foreign exchange reserves. “ADB’s countercyclical support is critical for Azerbaijan’s economy now and will help promote sustainable development and inclusive growth over the longer term,” said Sean O’Sullivan, the ADB’s Central and West Asia Department’s director general.

Short URL : https://goo.gl/9pI0re
  1. https://goo.gl/w2bEYx
  • https://goo.gl/Mnaw1g
  • https://goo.gl/ld6f4K
  • https://goo.gl/KpqHK1
  • https://goo.gl/KSbbFF

You can also read ...

Even though the US tariffs on their own may have a limited impact, global economic growth will slow should US trigger a trade war with  China or the European Union.
The volume of global trade grew faster than the world economy...
OECD Finds No Consensus on Interim E-Commerce Taxes
The Organization for Economic Cooperation and Development’s...
S. Arabia Among World’s Worst Performing Property Markets
Saudi Arabia’s real estate market continued to be one of the...
Since China’s entry into the World Trade Organization in 2001, it has become the most formidable  economic competitor the United States had even seen.
The US national debt exceeded $21 trillion for the first time...
Greece Looking Economically Vibrant on Road to Recovery
It’s nearly springtime in Athens: street trees are heavy with...
Merkel Says Trying to Boost Domestic Demand
Germany is trying to stimulate domestic demand to offset...
Gaza growth fell from 8% in 2016  to a mere 0.5% in 2017.
Gaza has seen conditions steadily deteriorate over the last...
ECB wants to keep headline inflation below,  but close to 2% year-on-year.
Eurozone consumer prices grew less than expected in February...

Add new comment

Read our comment policy before posting your viewpoints