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World Bank unveils CBA's policy to reduce liquidity of manat

21 July 2022 15:20 (UTC +04:00)

Central Bank of Azerbaijan (CBA) has increased note issuance by 23% to reduce the liquidity of the manat, APA-Economics reports citing the July issue of the "Monthly Economic Update" report of World Bank (WB) report on Azerbaijan.

According to the information, the Central Bank of Azerbaijan has not changed its policy considering the suitable statistics of the sector. Thus, the Bank kept the interest rate at 7.75% against the background of increasing inflation.

"In the first quarter of this year, the surplus of GDP in the current account balance was 22.5%, which influenced the CBA to keep the discount rate stable," the World Bank added.