finances in Caucasus

Baku invites Russian business to Azerbaijan

Baku invites Russian business to Azerbaijan

A meeting was held in Moscow between Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO) Advisor Zohrab Gadirov, Trade Representative of Azerbaijan in Russia Ruslan Aliyev and Co-owner of Russian TechnoNICOL company …

How will anti-Russian sanctions affect Georgia?

How will anti-Russian sanctions affect Georgia?

Georgia did not join the anti-Russian sanctions, so as not to suffer the disruption of trade and economic relations, but these sanctions will still affect it, since trade turnover between the two countries is still high and largely consists of …

Georgia asks IMF for financial assistance

Georgia asks IMF for financial assistance

The head of the Ministry of Finance of Georgia, Lasha Khutsishvili, held talks with the IMF mission’s head, James John, on a new three-year program of assistance to Tbilisi. Recall that this year the previous three-year IMF …

Armenia decides to save money on army

Armenia decides to save money on army

After the defeat of the Armenian army in the Second Karabakh War amid a severe economic crisis, the Armenian authorities are thinking about cutting the military budget. The relevant discussions are being held both in the government and in the …

Georgia's National Bank increases refinancing rate to 9%

Georgia's National Bank increases refinancing rate to 9%

The National Bank of Georgia has increased the refinancing rate by 0.5 percentage points to 9% today. The annual inflation in November reached 7%, which was mainly influenced by the depreciation of the Georgian lari, the bank …

Ruslan Tsechoev receives five years in prison for 2 bln rubles

Ruslan Tsechoev receives five years in prison for 2 bln rubles

According to the Investigative Committee for Ingushetia, an Ingush court sentenced former head of the Ministry of Finance of the Republic, Ruslan Tsechoev to five years in prison for misuse of 2 bln rubles. In December 2014, he sent …

Gakharia urges to ensure price stability in Georgia

Gakharia urges to ensure price stability in Georgia

Georgian Prime Minister Giorgi Gakharia has urged the National Bank of Georgia to actively use all instruments at its disposal to ensure price stability and inflation targeting. Gakharia noted that fiscal policy …

Bidzina Ivanishvili promises teachers 25% of Georgian budget

Bidzina Ivanishvili promises teachers 25% of Georgian budget

Georgia’s spending on education will be raised to 25% of the budget starting from 2021, Georgian Dream chairman, billionaire Bidzina Ivanishvili said today in an interview with Kutaisi International University. “From 2021, a …

Azerbaijan's Central Bank lowers discount rate to 7.75%

Azerbaijan's Central Bank lowers discount rate to 7.75%

The Central Bank of Azerbaijan has reduced the discount rate from 8 to 7.75%, CBA Chairman Elman Rustamov said at a press conference. Rustamov noted that the stabilization of oil prices in recent months, low …

Ramzan Kadyrov earns 7.58 million rubles per year

Ramzan Kadyrov earns 7.58 million rubles per year

The head of Chechnya, Ramzan Kadyrov filed an income declaration for 2018, its data was published on the website of the head and government of the republic. According to the document, last year Kadyrov earned 7.58 million rubles, which …

U.S. demands Pashinyan to work out $25mln of American help

U.S. demands Pashinyan to work out $25mln of American help

Senior fellow in the Russia and Eurasia Program at the Carnegie Endowment for International Peace, professor at Georgetown University Paul Stronski addressed Prime Minister Nikol Pashinyan via Twitter with the …

Bakhtadze: Georgian economy now more competitive

Bakhtadze: Georgian economy now more competitive

Georgia's Prime Minister Mamuka Bakhtadze has responded to Georgia’s improved standing in the Fitch rating.  According to him, the promotion in the international rating agency means that the Georgian …