Azerbaijan, Baku, 13 November / Trend corr. I.Khalilova / The Azerbaijani State Committee for Statistics submitted proposals on mechanism distributing liabilities to the government to calculate gross foreign debt of the country.
"In accordance with proposals, the Ministry of Finance should collect data on state debt and the State Committee for Statistics - the rest foreign debts without formation of state liabilities, Arif Valiyev, acting chairman of the State Committee, said. Then data on non-government field will be submitted to the National Bank of Azerbaijan (NBA) for calculation."
For the first time, a new Law on State Debt specifies tasks on calculation of foreign debts without formation of state liabilities. Azerbaijan is not responsible for liability of residents and non-residents of the country, which deposit means in foreign currency without state guarantee. Data on foreign liabilities of banks should be quarterly submitted to the NBA to work out balance of payment. The State Committee should calculate foreign debts at the licensed Azerbaijani banks before Azerbaijan's non-residents and submit data to the NBA.
According to the NBA, foreign debt of the country subject to debt debts of private sector does not exceed $8bln. Foreign debts under state guarantee make up $2.8bln on 1 October.
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