One Country’s Covid Restrictions Are Turning Into a Moneyspinner
- Azeri government finances benefit as land borders stay shut
- The last remaining safety measure helps stem dollar outflows
This article is for subscribers only.
Most countries couldn’t wait to dismantle travel curbs that were used to contain the coronavirus. Azerbaijan is gaining a boost to government finances by clinging to them months after the global pandemic was declared over.
For all the disruption to the $79 billion economy, the decision by the South Caucasus nation in June to keep its land crossings shut for another three months is closing off the biggest channel through which hard currency leaks out at a time when Azerbaijan’s oil output hovers near the lowest since 2007.