Baku turns to portfolio income to hedge oil volatility, data indicate

18 March 2026 13:58 (UTC+04:00)

Qabil Ashirov

While the language of economics is often composed of dry figures, interest rates, and complex terminology, behind these statistics sometimes lies a grand narrative that alters the fate of a nation. The latest balance of payments figures for 2025 released by the Central Bank of Azerbaijan are a manifesto of exactly such a story—the transition of Azerbaijan from an "oil exporter" status to that of a "global investor." For years, we discussed how the "black gold" flowing through pipelines filled our budget; however, we are now witnessing an entirely new and more intellectual phase: Azerbaijan's foreign capital has begun to work on our behalf.

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