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Azerbaijan says cbank foreign liabilities grew by 23.7 times in 8 years

Azerbaijan says cbank foreign liabilities grew by 23.7 times in 8 years

19 February 2009 17:20 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of January 1, foreign liabilities of Azerbaijan-based commercial banks stood at AZN 2 048.5 million, up 2.1 times on a year ago, said the National Bank of Azerbaijan.
According to the statistics, the foreign liabilities grew by 23.7 times over the past eight years.

The commercial banks increased debt service in the fourth quarter while almost no debt was received after that.
As a result, the rise in foreign liabilities was AZN 154.2 million in October while the drop was AZN 1110.5 million in November and AZN 3.8 million in December.

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