"IBA will be privatised but not before 2018"

The state-controlled International Bank of Azerbaijan will be privatised as soon as possible, but that won't happen before next year, Azerbaijani Finance MinisterSamir Sharifov said on Tuesday, reports Reuters.

The bank needs first of all to get its balance sheet back into shape, Sharifov told journalists on the sidelines of an investor meeting where he presented the terms of a debt restructuring offer for the country's biggest lender.

"Realistically, this will not happen before 2018," he said.