Natig Amirov: 'Correct way to increase manat liquidity in banks is dedollarization'

Baku. 11 March.REPORT.AZ/ Lack of manat liquidity in the commercial banks, operating in Azerbaijan, as well as support to manat liquidity is currently being considered at the government, Central Bank of Azerbaijan Republic (CBAR) and Financial Market Supervisory Chamber.

Report informs, Assistant to the President on Economic Reforms Natig Amirov said.

'But majority of the proposals are to increase liquidity potential of the banks as emission. Allocation of manats even for the most exact projects in the form of emission, will significantly increase the pressure on manat. bank community has no single thought that emission money could help strengthening of manat. It can benefit for 1-2 days, perhaps for a week. But the allocated emission, attempted by the Central Bank several times, dollarized within 3 days and returned to the CBAR in manats. At present, international financial institutions make various proposals in the chamber as well as local and foreign experts carry out works on this issue', N.Amirov noted.

N.Amirov stated correct way to increase manat liquidity in banks is dedollarization.