Azerbaijan creates Agency for State Debt & Financial Obligations


October 16, Fineko/abc.az. President Ilham Aliyev has signed a decree on the measures aimed at improving activity of the Ministry of Finance of Azerbaijan.

Under the decree, the Agency for the Management of State Debt & Financial Obligations has been established under the Finance Ministry.

The state debt and the created debt under governmental state will be served through the Agency. In case of threat of violation of financial and economic balance in the economy at the expense of public funds the financial and banking organizations having an important role in the financial-banking and payment system of the country, as well as entities of the non-financial sector with strategic importance, will be provided with emergency liquidity (placement of fixed-term deposits at them or receipt of urgent debt securities they issue) through the newly-created Agency on the coordination with the Azerbaijani president.