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N e w s
January 09th
Gold and monetary reserves of Azerbajan of total value $715 million as in the beginning of 2000
are all kept in foreign banks, said Elman Rustamov, chairman of board of directors of National
Bank of Azerbajan. The step was taken to protect the republic from possible financial crises.
Besides that the reserves bring dividends as the deposit interest. He also said that taking
long-term loans from international financial organizations is more profitable than spending the republic’s own money.
The source: FAN
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