CBA: Azerbaijan has sufficient strategic foreign exchange reserves

  11 March 2020    Read: 1197
 CBA: Azerbaijan has sufficient strategic foreign exchange reserves

Azerbaijan has sufficient strategic foreign exchange reserves, Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov told reporters.

Rustamov was commenting on the sharp drop in oil prices and its possible impact on the national currency rate, AzVision.az reports citing Trend. 

“We have enough current reserves,” Rustamov said. “Transfers of the Azerbaijani State Oil Fund (SOFAZ) are constantly made. CBA has its own reserves. The Ministry of Finance also has great reserves.”

“We will use these reserves,” the chairman added. "I think that the problem will be resolved faster than we expect. However, we must not forget about our strategic reserves."

"Our appeal to the population is to help us to solve this problem soon,” said Rustamov.


More about: CBA   Elman-Rustamov   manat