Azerbaijani financial system on the edge of collapse – local media
Azerbaijani haqqin.az published a material entitled The West tries to save Azerbaijani financial system. “The World Bank published material which testifies the catastrophic situation of the Azerbaijani banking system,” the web site writes. According to the WB, only 36.4% of the Azerbaijani adult population have banking account. With this index Azerbaijan is the last among 15 post-soviet countries.
The majority of banks are getting closed because of going bankrupt.
The experts invited by Azerbaijani president stated that the US dollar is very much rated there while the local currency is on the edge of collapse. They offered implementation of urgent reforms for saving the financial system of the country.