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Will credit interest rates be cut in Azerbaijan? – PM`s task

29.01.2020,17:44


January 29, Fineko/abc.az. Azerbaijan is likely to tighten control over giving of doubtful loans.

ABC.AZ reports that the issue is reflected in the Action Plan for ensuring the execution of orders arising from the meeting devoted to the results of 2019, approved by the order of Prime Minister Ali Asadov.

So, until July 2020 the Central Bank (CBA) should strengthen control in the banking sector, including over the giving of doubtful loans.

At the same time, the CBA, the Ministry of Economy, and the Ministry of Finance are tasked to take appropriate measures to support the real banking sector, giving of business loans, and loan interest rate cuts by the end of 2020.

By Elmir Murad