Baku, Azerbaijan, Sept. 23
By Kamala Mustafayeva – Trend:
The gold and currency reserves of the Central Bank of Azerbaijan (CBA) will continue to grow, analysts of the International Monetary Fund (IMF) say in their forecasts for the period until 2024, Trend reports referring to IMF.
As Trend previously reported, the Executive Board of IMF announced on September 6 the end of Article IV consultations with Azerbaijan for 2019.
The IMF predicts that in 2024 the CBA's foreign exchange reserves will grow and amount to 14.460 billion manats, or more than $8.5 billion.
This year, according to forecasts, the net international assets of the CBA will amount to 11.91 billion manats ($ 7 billion). In the period from 2020 to 2023, they will grow and reach12.42 billion manats ($7.305 billion), 12.93 billion manats ($7.605 billion), 13.44 billion manats ($7.905 billion) and 13.95 billion manats ($8.205 billion), respectively.
According to data provided by the CBA on August 30, the bank's foreign exchange reserves amounted to $6.004 billion.