Azeri bank foreign liabilities on decline

Azeri bank foreign liabilities on decline
# 06 May 2009 14:10 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. As of April 1, Azerbaijan-based commercial banks’ foreign liabilities stood at AZN 1 908.6 million, up 1.95 times on the same period last year, said the Central Bank of Azerbaijan.

However, foreign liabilities declined by AZN 139.9 million or 6.8% during the first quarter.

The decline is attributed to the fact that foreign debt service has continued and new debts are not borrowed.

Commercial banks’ foreign obligations have started to decline since October 2008.
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