Azerbaijan Currency Foreign Market
Maximum Travel Per Diem Allowances for Foreign Areas
1/ This country is an excess or near-excess currency country. Agencies should instruct travelers in this country to minimize the use of U.S. dollars for travel and per diem expenses, e.g., purchase of foreign currency only from U.S. Government disbursing facilities and the elimination of any direct use of dollars. See FTR 301-10.4. ... This Per Diem Supplement to the Standardized Regulations (Government Civilian, Foreign Areas) lists all foreign areas alphabetically. Where a country or island is listed it is intended to include all territory within the boundaries of that country or island including any off-shore islands in the same general vicinity. It will not include territories or possessions located elsewhere even though considered an integral part of the parent country or island. In such cases, no cost data pertinent to such territories and possessions were used in determining the established rates. When a political subdivision smaller than a country is named such as: states, provinces, departments, cities, towns, villages, etc.; it will include the corporate limits of such political subdivision or the limits of territory within the normal boundary thereof if it is not incorporated. ... [Read More]
Georgia (02/05)
Department of State Web Site. Available on the Internet at http://www.state.gov, the Department of State web site provides timely, global access to official U.S. foreign policy information, including Background Notes and daily press briefings along with the directory of key officers of Foreign Service posts and more. ... Growth has been accelerating since 2000, and Georgia's economic performance is slowly improving; GDP growth peaked at 8.6 percent in 2003 and is projected to be 6 percent in 2004, as construction of the Baku-Tbilisi -Ceyhan pipeline concludes. Inflation is low and stable; it was 4.8 percent in 2003 and forecast to be 5.8 percent in 2004. Despite several years of slow growth following the 1998 Russian financial crisis, Georgia led the former Soviet Union in developing the legal infrastructure necessary for an attractive investment climate. However, corruption still persists and confidence in the judiciary has not risen significantly. Further reform of the judiciary and anticipated tax reform in late 2004 are expected to help the investment climate. Georgia maintains no currency controls, allows foreign investment in all but a few sectors deemed strategically important, and has implemented an impressive privatization program, including land privatization. Georgia was the second country o ... [Read More]
International Narcotics Control Strategy Reports
FINANCIAL CRIMES AND MONEY LAUNDERINGMONEY LAUNDERINGOVERVIEWIn 1992, the major trends affecting money laundering policy were: (1) further sophistication of money laundering practices; (2) greater investment of drug and other illicit proceeds into established businesses, both to conceal money movements and to capitalize on illicit profits; (3) the internationalization of money laundering networks whose operations involve an ever larger number of countries and territories, regardless of their importance as financial centers or as drug producing or transit countries; and (4) the intensified involvement of the Sicilian Mafia and other criminal organizations in Europe, Asia and the Western Hemisphere who comingle proceeds from many crimes to confound investigators, and are now acting as brokers for funds unrelated to their own trafficking activities. These trends have made it more difficult to differentiate between drug-related money laundering and other forms of illegal money m ... [Read More]
Maximum Travel Per Diem Allowances for Foreign Areas
1/ This country is an excess or near-excess currency country. Agencies should instruct travelers in this country to minimize the use of U.S. dollars for travel and per diem expenses, e.g., purchase of foreign currency only from U.S. Government disbursing facilities and the elimination of any direct use of dollars. See FTR 301-10.4. ... Room taxes have not been removed from the foreign travel rates. Therefore, separate claims for taxes will not be allowed for foreign travel. ... [Read More]
Moldova (05/05)
Inflation was brought down from over 105% in 1994 to 11% in 1997. Though inflation spiked again after Russia’s 1998 currency devaluation, Moldova made great strides in bringing it under control: 18.4% in 2000, 6.3% in 2001, and 4.4% in 2002. In 2003 inflation escalated again -- due mainly to a drought-driven rise in agricultural prices -- reaching 15.7%, although it was reined in to 12.5 % in 2004. The local currency appreciated considerably in 2003 and the first months of 2004. By May, the leu had reached its highest level since the end of 1999. After the National Bank of Moldova increased considerably its purchases on the foreign exchange market, the leu stabilized in November-December 2004 at 12.00-12.50 to the U.S. dollar. ... [Read More]
Maximum Travel Per Diem Allowances for Foreign Areas
1/ This country is an excess or near-excess currency country. Agencies should instruct travelers in this country to minimize the use of U.S. dollars for travel and per diem expenses, e.g., purchase of foreign currency only from U.S. Government disbursing facilities and the elimination of any direct use of dollars. See FTR 301-10.4. ... This Per Diem Supplement to the Standardized Regulations (Government Civilian, Foreign Areas) lists all foreign areas alphabetically. Where a country or island is listed it is intended to include all territory within the boundaries of that country or island including any off-shore islands in the same general vicinity. It will not include territories or possessions located elsewhere even though considered an integral part of the parent country or island. In such cases, no cost data pertinent to such territories and possessions were used in determining the established rates. When a political subdivision smaller than a country is named such as: states, provinces, departments, cities, towns, villages, etc.; it will include the corporate limits of such political subdivision or the limits of territory within the normal boundary thereof if it is not incorporated. ... [Read More]
US Department Of State Post Report
Many foreigners hire a car and driver on a monthly basis instead of importing a car, and many other foreigners employ Azerbaijanis to drive for them in imported vehicles. Drivers do not need to acquire a local license, and one can drive on a valid U.S. driver’s license. ... In November 1999, Azerbaijan signed an agreement with Turkey and Georgia to transport Azerbaijani oil to international markets via a Baku-Tbilisi‑Ceyhan main oil export pipeline to the Mediterranean. In October 2000, the State Oil Company of the Azerbaijan Republic (SOCAR) together with BP, Unocal, Chevron and other foreign oil companies formed a sponsor’s group for the project. In March 2001, the presidents of Azerbaijan and Turkey signed a gas purchase agreement for Azerbaijani exports of gas to Turkey which will reach annual volumes of 6.6 billion cubic meters by 2007. Oil, gas and pipeline development contracts expected to be signed by the end of 2002 should total $12 billion in new investment in Azerbaijan. ... [Read More]
Uzbekistan (02/05)
Inflation was approximately 21.9% in 2003. In order to combat inflation, the government has exercised strict currency controls and severe shortages of cash exist in the country. From 1996 until the spring of 2003, the official and so-called "commercial" exchange rate were highly overvalued. Many businesses and individuals were unable to buy dollars legally at these rates, so a widespread black market developed to meet hard currency demand. However, by mid-2003, the gap between the black market, official, and commercial rates had been reduced to approximately 8%. In 2004, the gap between the two rates is negligible. Although the unification of the exchange rates is a positive development, recent government restrictions on the amount of local currency and hard currency that can be carried across the Uzbek border in either direction lessen the effect of currency convertibility on the Uzbek economy. Liberalization of the trade regime, however, is a prerequisite for Uzbekistan to proceed to ... [Read More]
Armenia (04/05)
Department of State Web Site. Available on the Internet at http://www.state.gov, the Department of State web site provides timely, global access to official U.S. foreign policy information, including Background Notes and daily press briefings along with the directory of key officers of Foreign Service posts and more. ... The United States has made a concerted effort to help Armenia and the other NIS during their difficult transition from totalitarianism and a command economy to democracy and open markets. The cornerstone of this continuing partnership has been the Freedom for Russia and Emerging Eurasian Democracies and Open Markets (FREEDOM) Support Act, enacted in October 1992. Under this and other programs, the U.S. to date has provided nearly $1.5 billion in humanitarian and technical assistance for Armenia. U.S. assistance programs in Armenia are described in depth on Embassy Yerevan’s website at: www.usa.am/assistance/. ... [Read More]
Azerbaijan (10/04)
Department of State Web Site. Available on the Internet at http://www.state.gov, the Department of State web site provides timely, global access to official U.S. foreign policy information, including Background Notes and daily press briefings along with the directory of key officers of Foreign Service posts and more. ... The United States is committed to aiding Azerbaijan in its transition to democracy and formation of an open market economy. The Freedom Support Act, enacted in October 1992, has been the cornerstone of U.S. efforts to help Azerbaijan during this transition. Under the Freedom Support Act, the U.S. provided approximately $43.8 million in humanitarian and developmental assistance to Azerbaijan in FY 2002. ... [Read More]
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