Azerbaijan to legislate central bank recapitalisation

The Central Bank of Azerbaijan

The Azerbaijani parliament has prepared a draft law that would allow it to recapitalise the country's central bank, which dropped into the red last year.

Amendments to the central bank law were submitted to parliament for consideration earlier this week, with the aim of "improving the mechanisms" for covering a capital shortfall at the Central Bank of Azerbaijan.

According to the central bank's annual report for 2014, capital reserves and share capital were not enough to cover accumulated losses

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