BAKU, Azerbaijan, Feb.23
By Leman Zeynalova – Trend:
The breakdown of investments of Azerbaijan’s state oil fund (SOFAZ) by regions is as follows: over 29 percent in North America, 28 percent in Europe, 23 percent in Asia-Pacific, and around 1 percent in Africa and Middle East, the Fund told Trend.
“Moreover, around 6 percent of SOFAZ investments account for major multinational organizations such as the World Bank, the International Monetary Fund, the Asian Development Bank and others. The remaining part of investments account for the gold,” said the Fund.
SOFAZ noted that the growing vaccination rate, decreasing impact of COVID-19 on the world economy, coupled with easing of restrictions, have relatively normalized the situation in financial markets as compared to the volatility of 2020.
“Nevertheless, there are still uncertainties due to the geopolitical tension in the world, high inflation in the developed economies, supply problems in the production and logistical chains, as well as the Omicron variant, which increase the risks of new restrictions and supply disruptions. In this regard, SOFAZ continuously watches the short-term volatility in the global exchange markets and the ongoing developments. Like the majority of institutional investors, SOFAZ prefers to stick to medium-term (tactical) or long-term (strategic) goals,” said the Fund.
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