Central Bank of Azerbaijan eyes to issue long-term notes

By  Trend

The Central Bank of Azerbaijan (CBA) plans to issue long-term notes, Director of the Monetary Policy Department of the Central Bank of Azerbaijan (CBA) Azar Alasgarov said at the annual Fitch Ratings conference in Baku on April 4, Trendreports.

“We plan to issue notes for three, six months, as well as for a year,” he said.

The circulation period of the CBA notes is 28 days. Average interest rates on notes are about 7 percent.

Short-term notes are a tool of monetary policy to regulate money supply in circulation. Only banks can obtain notes.

The annual Fitch Ratings conference is taking place in Baku. The event participants are discussing the situation in the banking sector, including the existing challenges, the macroeconomic indicators of Azerbaijan, reforms and the development of the country’s economy, as well as trends in the global oil and gas market.