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Uzbek CB introduces new bank note

AUG. 14 2017 (The Bulletin) — Reflecting sharp inflationary pressures, the Uzbek Central Bank said that it was going to introduce a 50,000 soum banknote. In June, in a rare statement, the Central Bank said that rising inflation had forced it to increase its key interest rate to 14% from 9%. Earlier this year it introduced a 10,000 soum note. The 50,000 soum note is equivalent to $12 on the official exchange market and around $6 on the unofficial market.

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(News report from Issue No. 340, published on Aug. 20 2017)

Azerbaijan claims tax on media outlet

AUG. 18 2017 (The Bulletin) — The authorities in Azerbaijan froze the bank accounts of the Turan news agency, often described as the last independent Azerbaijani news outlet. Media quoted Turan’s managing director, Mehman Aliyev, as saying that the authorities were investigating alleged tax evasion of $22,000. He said that allegations were false.

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(News report from Issue No. 340, published on Aug. 20 2017)

Uzbekistan repeals exit visas

AUG. 16 2017 (The Bulletin) — Uzbek president Shavkat Mirziyoyev has signed into law a decree that will scrap exit visas from Jan. 2019, state media reported. Repealing the exit visas is one of the most high-profiles decisions taken by Mr Mirziyoyev who has crafted himself as a moderniser and a reformer since taking over the presidency after the death of Islam Karimov in September 2016.

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(News report from Issue No. 340, published on Aug. 20 2017)

Kazakh CB to bail out commercial banks

AUG. 10 2017 (The Bulletin) — Kazakhstan’s Central Bank will write off bad loans held by the country’s commercial banks worth $1.8b to $3b through a bond purchasing programme, Olzhas Kizatov, head of its banking sector supervision department, told media. In essence this is a bail-out of the Kazakh banking sector. The Central Bank had estimated that 11% of the banks’ loan portfolio was considered bad but Mr Kizatov said that the real figure was higher.

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(News report from Issue No. 339, published on Aug. 13 2017)

Video shows Kazakh police brutality

AUG. 12 2017 (The Bulletin) — A CCTV camera on a building in Pavlodar, northern Kazakhstan, captured a near 4 minute-long incident that human rights activists said showed just how brutal Kazakh police are. In the video, three unarmed men appear to resist arrest by at least five policemen. After a tussle, the men are wrestled to the ground beaten with a truncheon, kicked in the head and abdomen and are sprayed in the face with an unknown substance.

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(News report from Issue No. 339, published on Aug. 13 2017)

Air passenger numbers rise in Georgia

AUG. 9 2017 (The Bulletin) — Passenger flow at Georgian airports has increased by nearly 50% in the first seven months of this year compared to the same period in 2016, the civil aviation authority said in a report. Georgia has been experiencing a boom in tourism from the Middle East that has triggered a major increase in flights to and from the region. For Middle Eastern tourists, Georgia is an easily accessible lush and green country where they can escape the summer heat.

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(News report from Issue No. 339, published on Aug. 13 2017)

Moscow court halts Uzbek reporters extradition

AUG. 8 2017 (The Bulletin) — A court in Moscow suspended the extradition of Uzbek journalist Khudberdi Nurmatov after he said that he would be tortured and killed if sent back to Uzbekistan. Mr Nurmatov is openly gay, a crime in Uzbekistan. He was detained by police in July for allegedly breaking immigration rules. He has lived in Moscow since 2011 and has been trying to claim asylum. Uzbekistan has one of the worst media freedom records in the world.

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(News report from Issue No. 339, published on Aug. 13 2017)

Tajikistan accuses Iran of meddling in civil war

AUG. 9 2017 (The Bulletin) — A documentary aired on state TV in Tajikistan accused Iran of meddling in a civil war in the 1990s by sending in assassins to kill various political leaders. Iran immediately denied the allegations which threaten to undermine important Tajikistan-Iran relations. Tajikistan has been holding a series of events commemorating the end of the civil war that led to the rise of Emomali Rakhmon as president.

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(News report from Issue No. 339, published on Aug. 13 2017)

Berdy visits Azerbaijan

AUG. 9 2017 (The Bulletin) — Turkmen president Kurbanguly Berdymukhamedov flew to Baku for talks with Azerbaijani President Ilham Aliyev that focused on efforts to feed Turkmen gas into the South Caucasus Energy Corridor that will pump supplies to Europe from the Caspian Sea. Turkmenistan is looking for more export routes for its gas. Officially the two leaders signed a document promising to further their strategic partnership.

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(News report from Issue No. 339, published on Aug. 13 2017)

Remittances from Russia to Armenia rise

AUG. 10 2017 (The Bulletin) — Remittances from Russia to Armenia increased by 15.5% in the first half of the year, compared to the same period in 2016, the Armenian Central Bank said, an important indicator that the economics of the region are beginning to improve. In total, flows from Russia, an important hub for Armenian migrant workers, hit $408m between January and June. The economies of the region are partly reliant on Russia to generate wealth for migrant workers.

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Copyright ©Central Asia & South Caucasus Bulletin — all rights reserved

(News report from Issue No. 339, published on Aug. 13 2017)