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Azerbaijan led the world as the top reformer in 2007/08, with improvements on seven out of 10 indicators of regulatory reform. Azerbaijan started operating a one-stop shop in January 2008 that halved the time, cost and number of procedures to start a business. Business registrations increased by 40% in the first six months. Azerbaijan also eliminated the minimum loan cutoff of $1,100, more than doubling the number of borrowers covered by the credit registry. Also, taxpayers can now file forms and pay their taxes online. Azerbaijan’s extensive reforms moved it far up the ranks, from 97 to 33 in the overall ease of doing business.Azerbaijan is also ranked 57th in the Global Competitiveness Report for 2010–2011, which is above other CIS countries.