BAKU, Azerbaijan, May 1. The Central Bank of Azerbaijan (CBA) announced this week its decision to leave the discount rate unchanged - at the level of 7.75 percent, Trend reports.
At the same time, the upper and lower limits of the interest corridor also remained unchanged - at the level of 9.25 and 6.25 percent, respectively.
The CBA also said this week that it considers the possibility of introducing new financial instruments in Azerbaijan, and works to update the legal framework related to the financial sector.
Meanwhile, the CBA published its forecast, according to which the inflation rate inin Azerbaijan will remain at the current level until the end of this year.
In the outgoing week, the European Bank for Reconstruction and Development (EBRD) informed about expansion of its portfolio of projects in Azerbaijan, and noted that as of April 1, 2022, the current loan portfolio of its projects in the country was estimated at 823 million euro.
According to the bank, majority of the project portfolio (724 million euro or 88 percent) has been directed to investments in sustainable infrastructure, 69 million euro (eight percent) to investments in industry, trade and the agricultural sector, and 30 million euro (four percent) - to investments in financial institutions.
Fitch International Rating Agency revised this week the ratings of the International Bank of Azerbaijan (IBA). The agency maintained the bank's long-term and short-term issuer default ratings at B level with a Stable outlook.
The agency emphasized that the IBA has stable financial performance, including a reliable reserve capital.