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Azeri commercial banksâ€™ foreign liabilities on decline

Azeri commercial banksâ€™ foreign liabilities on decline

27 July 2009 16:49 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of July, Azerbaijan-based commercial banksâ€™ foreign liabilities stood at AZN 1 845.2 million, up 46.2% on the same period last year, said the Central Bank of Azerbaijan.

However, foreign liabilities declined by AZN 203.3 million or 9.9% during January-June.

The drop in foreign liabilities was AZN 83.3 million in June alone.

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

Commercial banksâ€™ foreign obligations have started to decline since October 2008.

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