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Sovereign Wealth Funds Briefing - Categorized | Financials, Market, Reserve Currencies

Moody’s Sees Capital Controls Back on Azeri Agenda as Woes Mount

Posted on 06 September 2016

The sovereign wealth fund known as Sofaz offers only $50 million in auctions held twice a week, which hasn’t been enough to supply banks. The government’s options are to continue to draw down dollars from Sofaz and the central bank or to allow the manat to weaken, according to Samir Aliyev, an analyst at the Center for Support to Economic Initiatives, a Baku-based research group.
“If the panic on the market remains after the referendum, I think the government will go for the second option,”he said………………………………………..Full Article: Source


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