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Long-Term State Debt Liabilities Will be Issued to Capitalize NBA

Business Materials 25 December 2006 16:07 (UTC +04:00)

The President of Azerbaijan made an arrangement to use long-term state debt obligation to fill up the capitals of the National Bank of Azerbaijan (NBA). After specifying the necessary amount to fill up the capitals of the NBA, it is intended to issue new securities. Possibly they will be intended for 15-20 years. This period will also be specified with other conditions of the emission, Trend reports with reference to the Finance Ministry of Azerbaijan.

The capital lack emerged due to the measures taken by the NBA to support the macro-economical stability and due to the expenses on reassessment of the reserves.

According to the law On National Bank, the authorized capital of the NBA should amount to AZN 10 mln.

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