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Azerbaijan has 'alternative' plan for IBA debt restructure
May 30, 2017 / 9:51 AM / 6 months ago

Azerbaijan has 'alternative' plan for IBA debt restructure

BAKU, May 30 (Reuters) - Azerbaijan has an “alternative” option in case creditors of the state-run International Bank of Azerbaijan (IBA) fail to vote in favour of its current debt restructuring proposal, a senior official said on Tuesday.

“We hope that the vote will be successful but if they (creditors) won’t vote (in support), we have an alternative programme,” Rufat Aslanli, chairman of the country’s Financial Markets Supervisory Body (FMSB), told reporters.

Aslanli did not provide details of the alternative option but said it would not hurt IBA’s retail or business clients by freezing or placing restrictions on deposits.

Reporting by Nailia Bagirova; writing by Katya Golubkova; editing by Sujata Rao

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