In 2009, the Central Bank of Azerbaijan (CBA) is to remove problems of liquidity in country's banking sector," CBA Acting Director General Khagani Abdullayev said.
"Standards of compulsory redundancy have been practically reduced to zero and the majority (62 percent) of the liquidity in the banking sector is linked with the decrease of obligatory norms of reservation as it allowed to return funds to banks, which were sent for repayment of external loans," Abdullayev said.
This year, banks will pay off $1.3-1.4 billion. The process attracting new loan lines from abroad, including refinancing has been revived over the last months, he added.
Over the four months, banks paid off $400 million. Last year, the foreign debt of the banking sector was $2.5-2.6 billion. A total of $1 billion is expected to be paid off this year to the end of the second quarter and in the fourth quarter.
"Recovery of refinancing at world financial markets before the fourth quarter may decrease a tension in country's banking sector," Abdullayev added.
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