BAKU, Azerbaijan, June 12. Azerbaijan repurchased issued Eurobond securities in the amount of $900 million in the first quarter of 2024, Director of the Statistics Department of the Central Bank of Azerbaijan (CBA) Samir Nasirov said during today's media briefing in Baku, Trend reports.
According to him, the deal created a portfolio investment shortfall of $903 million.
Nasirov mentioned that the expiration of securities for the specified amount was a factor contributing to the reduction of the country's external debt.
“A deficit of $1.6 billion was formed in the balance of capital and financial flows due to the fulfillment of financial obligations of enterprises and organizations operating in the country. In other words, during this period, the main financial obligations of our country were reduced,” he added.
To note, in March 2014, Azerbaijan for the first time placed government securities amounting to $1.25 billion (Eurobonds) in foreign currency at a rate of 4.75 percent for a period of 10 years.
As of January 1 of this year, 35 percent of Azerbaijan’s external public debt, or $2.3 billion, consisted of government bonds (Eurobonds) placed on the international financial market. Of this amount, $900 million (with a coupon rate of 4.75 percent) will mature in 2024, $310.7 million (with a coupon rate of 5.125 percent) in 2029, and $1.07 billion (with a coupon rate of 3.5 percent) in 2032.
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