NBA TO INCREASE NOTE IN CIRCULATION TO 250BN AZM
The National Bank of Azerbaijan (NBA) intends to increase the amount of issue of short term notes with regard to decrease money base.
The NBA told Trend by the end of 2005 the bank plans to increase the amount of notes in circulation to 200-250bn manats against the current amount which is up 100bn
The NBA is eager to increase the amount of notes in compliance with the money base to clear off intervention and waste of money by the Finance Ministry.
Under the existing commission on coordinating issue of securities the NBA and the Finances Ministry take attempts for coordinated interaction, in particular, which accord the term of issue of securities.
So, the definition of securities emitters is not ruled out to depend on their urgency, for instance the securities with the term of circulation of 6 months issued by the NBA and longer term by the Ministry of Finances. However, at the moment the Finance Ministry does not emit long-term securities, as there is not necessary demand for them.