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Central Bank of Azerbaijan says foreign liabilities down 29%

23 April 2009 13:00 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. The Central Bank of Azerbaijan posted its foreign liabilities at AZN 57.7 million as at April 1, down AZN 23.5 million or 29% from a year ago.

The central bank said foreign liabilities dwindled by AZN 7.2 million or 11.1% during the first quarter this year.

As of April 1, foreign liabilities-total international assets ratio was 1.38%, compared to 2.1% a year ago. This trend indicates that the decline in foreign liabilities exceeds the growth in foreign assets over the past year.

As of April 1, the central bankâ€™s total foreign assets reached AZN 4 190.3 million, up 5.8% on a year earlier.

With other foreign assets included, the bankâ€™s net foreign assets stood at AZN 4 130.1 million, up AZN 247.6 million or 6.4% on a year ago. However, this figure declined by AZN 982.6 million or 19.2% during the first quarter.