OP Corporate Bank plc commenced cooperation with Latvijas Gaze in relation to the provision of a loan worth EUR 35 million. The bank acquired rights to provide the loan by winning in Latvijas Gaze tender for re-financing of capital investments. The contract for the EUR 35 million loan with Latvijas Gaze has been signed for…
In 2017 Moldova expects to get credits at a total amount of MDL 7 billion 397.2 million ($362.6 million) to support the budget and continue externally-funded projects. This is provided for by the draft law on the 2017 state budget approved by the government. By estimates of the Finance Ministry, to continue the implementation of…
Moldova’s government expects to have MDL 220 million from the privatization of public assets and MDL 700 million from the sale of the liquidated banks’ assets. These amounts have been included in the 2017 state budget. In particular, MDL 220 million from the privatization of public assets and MDL 700 million from the sale of…
An International Monetary Fund (IMF) mission led by Martin Sommer visited Ashgabat on December 1-6, to assess macroeconomic and financial developments and discuss economic challenges and policy priorities with senior government officials and the diplomatic community. The expectations for persistently lower oil and natural gas prices imply the need for additional policy adjustment in Turkmenistan,…
In November Belarus’ gold and foreign exchange reserves rose by $21.2 million if calculated in accordance with methods of the International Monetary Fund. According to preliminary data, the reserves totaled $4,838.0 million as of December 1, the Information and PR Department of the National Bank of the Republic of Belarus reported. In national terms the…
In 2016 Azerbaijan’s exports will decline by 18% YoY, or by $2.8 billion, the CBA Chairman Elman Rustamov said. Earlier Rustamov noted that Azerbaijan’s exports would be about $12.8 billion by late 2016. “The export of non-oil products and services has declined by 20% since early 2016”, he said, adding that non-oil imports were currently…
The Asian Development Bank (ADB) approved a $500 million loan to help Azerbaijan maintain social spending, create jobs, and diversify its economy to mitigate the adverse impact of a crash in oil prices, ADB said in a message. Sean O’Sullivan, director general of ADB’s Central and West Asia Department, said ADB’s support was important for…