Recent Examples of manat from the Web
Before the bonds were sold to the pension fund, IBA reported a negative liquidity gap of 875 million manat for the first half of 2014, which equaled more than $1 billion at the time.
The country’s currency, the manat, dropped about one-third in value against the dollar in December.
Creditors are also complaining about the exclusion from the restructuring list of about 500 million manat ($297 million) of subordinated debt owed to the Central Bank of Azerbaijan.
The government has so far spent 9.93 billion manat ($5.9 billion) on buying the bank’s toxic assets, while also placing more than $1.3 billion on deposit to provide liquidity.
Another 4 billion manat in bad assets will be transferred to the state if the restructuring plan is approved.
The Azeri government has spent 9.93 billion manat ($5.9 billion) on buying the bank’s toxic assets, while also placing more than $1.3 billion on deposit to provide liquidity.
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