SOFAZ to Transfer $4 Billion for Currency Stabilization Purposes
Posted on 01/11/2017
A predicted increase in U.S. interest rates is wrecking havoc in countries such as Turkey and Azerbaijan. Azerbaijan President Ilham Aliyev issued a decree to transfer up to 7.5 billion manat (US$ 4 billion) of assets from the State Oil Fund of Azerbaijan (SOFAZ) to the Central Bank of the Republic of Azerbaijan in 2017. […]
- Azerbaijan
- Central Bank of the Republic of Azerbaijan
- Central Banking
- interest rates
- manat
- Middle East
- SOFAZ
- Turkey