Azerbaijan's external debts under state guarantee exceed $7bn
Azerbaijan, Baku, June 11/ Trend , I.Khalilova /
Up to now, the Government of Azerbaijan has signed agreements with international financial institutions and foreign credit institutions to attract foreign borrowings totaling $7.1 billion (5.7 billion manat) under state guarantee, said the Finance Minister of Azerbaijan Samir Sharifov. As of April 1, the figure was $6 574 million.
The Ministry of Finance maintains a conservative policy and continues to keep attention on the management of external and domestic debts, attracted under state guarantee, which are managed by the Ministry in accordance with the Law on State Debts.
According to the Minister, in case of problems with the fulfillment of obligations on external debts in the Public budget, a fund was established. The average amount of the fund should not be less than 25 percent of the aggregate amount of financial obligations on credit and debts attracted under state guarantee.
Today the foreign debts of the banking sector of the country total $2.7 billion.
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