BAKU, Azerbaijan, October 18. External debt of Azerbaijan's banking sector decreased in the first half of 2022, Trend reports on October 18 via the report of the Central Bank of Azerbaijan (CBA).
"In the structure of banks' liabilities, as of July 1, the share of external debts of the banking sector made up 1.5 percent, while at the end of 2021 this figure was 1.9 percent. At the same time, 33 percent of the current external debt of banks fell on loans for which the maturity will be within the next year," the CBA report said.
The report said since 2017, banks in Azerbaijan have been annually reducing the volume of external debt.
"At the end of 2017, the external debt of banks amounted to $929 million, or 6.5 percent of all liabilities, in 2018 - $578 million (3.9 percent), in 2019 - $582 million (3.5 percent), in 2020 - $447 million (2.8 percent), and in 2021- $383 million (1.9 percent). Thus, from 2017 to date, the banks have reduced their external debt by 2.9 times," the report said.