Issue of foreign currency loans in Azerbaijan may be solved differently

  26 January 2016    Read: 1104
Issue of foreign currency loans in Azerbaijan may be solved differently
The issue of helping Azerbaijani banks in connection with dollar-denominated loans can be considered as part of the restructuring of the banking sector, the chairman of the Central Bank of Azerbaijan Elman Rustamov told reporters Jan. 26.
He made the remarks responding to a question regarding the possibility of the return of dollar-denominated loans at the old rate [1.05 AZN/USD].

“In general, we think that it may violate financial discipline,” he said. “In the future, people may have a feeling that they can borrow loans without returning them. But, most likely, within the framework of restructuring of the banking sector and within the framework of the assistance program, we`ll figure out how to help the banks, so that they can resolve this issue. Probably, we will discuss this issue with banks and experts.”

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