NET INTвЂ™L RESERVES OF NBA FALL 1.53% IN JUL
In July net international reserves of the National Bank of Azerbaijan (NBA) dropped 1.53%, while since the beginning of the year it grew 12.59%. The NBA told Trend on 1 August 2005 the net international reserves made up 5404.5bn manats against 5488.4bn manats by 1 July and 4800.2bn manats by 1 January 2005.
Net internal assets made up 3447.2bn manats against 2952.6bn manats as of 1 July and 2715.1bn manats as of 1 January 2005. As of 1 August the expanded money mass (M3) made up 8851.7bn manats against 8440.9bn manats as of 1 July and 7515.2bn manats as of 1 January 2005.
Under the Poverty Reduction and Growth Facility Program (PRGF) the government and the International Monetary Fund (IMF) accorded the following minimal level of net international reserves of the NBA: on 30 June 2005 - 4,994trln manats, on 31 September 2005 - 5,332trln manats, 31 December 2005 - 5,663trln manats. In PRGF US dollar rates were considered as 4606 manats. As of 1 July 2005 the net international reserves constituted $1173.36m. The following limitations were accepted under the net internal assets under PRGF: on 30 June 2005 - 2,381trln manats, 31 September 2005 - 2,462trln manats, 31 December 2005 - 2,738trln manats.
The forecast expanded money mass (M3) was adopted in the following form on 30 June 2005 - 7,375trln manats (in manats - 3,578trln manats), 31 September 2005 - 7,793trln manats (in manats - 3,812trln manats), 31 December 2005 - 8,401trln manats (in manats - 4,499trln manats).