Part of AZN 10B-bonds issued for IBA’s financial health unregistered

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# 10:04
23 May 2017

In 2016 AZN 10 billion of bonds with state guarantee issued by Agrarcredit for compensation of International Bank of Azerbaijan’s (IBA) troubled loans was registered, AZN 10 billion came from their sale and AZN 460 million was allocated from Central Bank of Azerbaijan to Deposit Insurance Fund. However, a part of these amounts is not reflected in the registration of internal public debt and other part was considered as contingent liability.

 

At the same time, amount of bonds with the state guarantee issued by Agrarcredit in 2016 made up AZN 7 billion. 

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THE OPERATION IS BEING PERFORMED