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-
Economics
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Azerbaijani President Ilham Aliyev has signed amendments to two presidential decrees, refining the roles and appointments of the State Customs Committee's representatives abroad, including in international organizations.
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Auditing organizations and independent auditors in Azerbaijan concluded 7,232 contracts valued at 133.2 million manats ($78.4 million) in 2023, reflecting increases of 20% in the number of contracts and 7.1% in their total value compared to the previous year, according to the Chamber of Auditors.
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The third meeting of the auction commission was held to evaluate the proposals submitted by participants in the auction for the Gobustan Solar Power Plant project, supported by the European Bank for Reconstruction and Development (EBRD). The meeting focused primarily on determining qualification eligibility and selecting the auction winner, according to the State Agency for Renewable Energy Sources.
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There is no sensationalism in the recent renaming of the Azerbaijani ship Karabakh to Mingachevir; the new name was given to the ship to ensure that two vessels would not operate under the same name, the Merchant Fleet of Azerbaijan Caspian Shipping Company (ASCO) CJSC told Turan.
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