External Debt of Banks - 22% of Liabilities of Banking System of Azerbaijan

The report of the Central Bank of AR (CBA) on financial stability, including the first quarter of this year, has been issued. As of April 1, the external debt of the local banking sector was at the level of 6.4 billion manats or 22% of the total liabilities of the banking system.

In March, its refinancing rate was 89% and from 2009 to the end of 2014 - 150%, indicating a high potential of the banking system borrowing in foreign markets, the report says.

"It is estimated that local banks are resistant to refinancing the external debt and have sufficient liquid assets in foreign currency to meet the obligations on foreign loans," said CBA.  --17D-

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