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NBA defines optimal capital liberalization model

Business Materials 21 April 2006 20:40

A decision of liberalization of the capital movement will be adopted depending on the situation, the head of the National Bank (NBA), Elman Rustamov told, noting that the most optimal model allowing reduction of the speculative capital movement will be chosen,Trend reports.

Statements on capital liberalization are connected with expectation of the large currency inflows in the country in 2006. $1, 2- 1, 3bln will be moved into the country, according to the financial ministry forecasts. This can be in the form of equipment, services, assets and valuable papers. Ratings should stay at AA level.

The government is also reviewing proposals about abolition of the tax fines on imported abroad currency by physical persons in amount more than $1.000. This is one of the WTO demands.

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