Obligations of the banking system for loans borrowed from the Central Bank of Azerbaijan (CBA), expanded in July of this year by 7 million or 0.3 percent to 2280 million manat. For the one-year period, it increased by 293.3 million or 15%, since the beginning of the year - by 247.4 million or 12.2%.
According to the CBA, since last June centralized credits were issued at the rate of 5.25% per annum.
At the end of July, the centralized resources of the Central Bank were 50.4% of all funds raised by banks from the financial sector, and 17.9% of total liabilities of the banking system.
It is noteworthy that on August 1, 2008, when the global financial crisis had only just begun to be felt in the country's banking system, the share of loans to the CBA came to only 114.6 million or 1.5% of total liabilities of the banks. - 15V -
Economics
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On February 4, Azerbaijani Economy Minister Mikayil Jabbarov met with a delegation of the International Monetary Fund (IMF) led by Anna Bordeaux, head of the IMF mission in Azerbaijan, to discuss economic cooperation, financial sector issues and structural reforms, the ministry said.
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