Azerbaijani government made corrections to the strategy for managing strategic monetary reserves.

Mediamax reports referring Trend that the Chairman of the National Bank of Azerbaijan (NBA) Board of Directors Elman Rustamov said this, stressing that the main goal of the strategy is not the profitability, but provision of integrity.

“NBA and the State Oil Fund have made a transition to a conservative policy for managing reserves and today they are preserved in the central banks of the leading countries of the world, in the World Bank, the bank for International Settlements and organizations with sovereign ratings”, Rustamov stated.

He informed that in 2008, NBA expects to gain about $150mln from managing the monetary reserves. “Against the background of losses observed in the world, this is a good index”, Rustamov stated.

Elman Rustamov informed that 60% of the reserves are placed in USD, and 40% - in Euro and pound sterling.

The strategic monetary reserves of Azerbaijan made $18.2bln as of November 12.