Armenia has dropped its opposition to the project – on grounds that a “corridor” would imply extra-territorial status -- and is now actively moving forward with it.

Global growth is expected to moderate from 5.9 in 2021 to 4.4 percent in 2022—half a percentage point lower for 2022 than in the IMF's October forecast.

The bank reported a net profit of 90.2 million manats ($53.1 million) in 2021. The bank’s assets amounted to 6.4 billion manats, 16.2 percent up from 2020.

Silknet said that the interest rate is 8.375 percent and its holders will receive the coupon twice a year.

Equinor and SOCAR are cooperating in Azerbaijan on the exploration and production in the promising areas of Ashrafi-Dan Ulduzu-Aypara since May 2018.