Azeri Leader Rejects Bill to Tax Outflows of Foreign Currency

  • Nation sought to contain currency crisis with capital controls
  • Manat has stabilized this month after trading at record lows

Azeri President Ilham Aliyev refused to sign into law a bill proposed by parliament last month to impose a 20 percent tax on foreign currency exported for investment abroad, a centerpiece of the government’s efforts to cope with the fallout from collapsing oil prices.

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