Investors removed $2bn from Azerbaijan since crisis hit: minister
Foreign investors removed about $2 billion from Azerbaijan since
the economic crisis hit world markets, Finance Minister Samir
Sharifov told parliament Thursday.
According to him, in the first half of 2009, foreign investors took abroad funds held in state bonds worth $250 million, or 60% of the overall market share. Also, they withdrew $1.7 billion from the Azerbaijani banking system, or 20% of the banks’ total currency assets.
"Nonetheless, the government managed to ward off the negative impact of the crisis by prompt economic policy measures," Sharifov said. "Economic growth was achieved in the country in the conditions of macroeconomic stability."*
According to him, in the first half of 2009, foreign investors took abroad funds held in state bonds worth $250 million, or 60% of the overall market share. Also, they withdrew $1.7 billion from the Azerbaijani banking system, or 20% of the banks’ total currency assets.
"Nonetheless, the government managed to ward off the negative impact of the crisis by prompt economic policy measures," Sharifov said. "Economic growth was achieved in the country in the conditions of macroeconomic stability."*
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