Azerbaijan: IBA creditors vote for restructuring of bank’s foreign liabilities

The International Bank of Azerbaijan (IBA) has received enough votes from creditors to start the process of restructuring its foreign liabilities, Bloomberg reported, referring to the bank’s statement. Creditors holding more than 87% of the debt have voted in favor of the restructuring process, according to the report. Voting on the plan of voluntary restructuring…

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Turkmenistan: Tashkent and Ashgabat mull issues of expanding cooperation

Central Asian states, Uzbekistan and Turkmenistan, which traditionally enjoy fruitful and successful cooperation, voiced commitment to deepen the ties. Uzbekistan’s President Shavkat Mirziyoyev and Deputy Chairman of the Cabinet of Ministers, Foreign Minister of Turkmenistan Rashid Meredov discussed the expansion of practical Uzbek-Turkmen cooperation. The sides discussed the expansion of cooperation between the countries, as…

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Kyrgyzstan: foreign investments down in 2016

Foreign investment in Kyrgyzstan fell by a half from $1,573.2 billion in 2015 to $814,000 in 2016, the National Statistics Committee reported. Manufacturing industries accounted for a third of direct investments. Also, a significant share of investments is taken by geological exploration (20.3%), financial intermediation and insurance (22%). There was less direct foreign investment from…

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