Azeri Central Bank Considers Dollar Sales as COP29 Drives Demand
- Dollar demand grows as nation prepares for UN climate talks
- Central bank also notes increase in other government spending
As many as 80,000 foreigners are expected to attend COP 29 in Baku in November.
Photographer: Tofik Babayev/AFP/Getty ImagesThis article is for subscribers only.
Azerbaijan’s central bank said it’s considering the resumption of dollar sales as preparations for UN climate talks in the Caspian Sea nation’s capital city help drive foreign-exchange demand.
President Ilham Aliyev said late last year that he expected as many as 80,000 foreigners to attend the 29th United Nations Conference of the Parties, or COP, in Baku on Nov. 12-22. It will be the largest international event the oil and natural gas-exporting country has hosted.