Azerbaijan's external public debt amounts to 8.6% of GDP
Baku, Azerbaijan, Feb. 18
By Azad Hasanli - Trend:
As of January 1, 2015, the volume of the external public debt of Azerbaijan made up 5.082 billion manats, which is 8.6 percent of GDP, the Azerbaijani Ministry of Finance said Feb. 18.
The country's external liabilities increased by 6.9 percent in 2014.
Around 7.3 percent-debt of the external borrowings was calculated for up to 10 years, 60.2 percent - from 10 to 20 years, 32.5 percent - more than 20 years.
As of Jan. 1, the currency structure of loans is as follows: 9.9 percent of the funds were drawn in the SDR (IMF Special Drawing Rights), 64.8 percent - US dollars, 21.4 percent - euros, 2.1 percent - Japanese yen, 0.7 percent - Islamic dinar, 0.4 percent - Saudi Riyal, 0.5 percent - UAE dirham, 0.2 percent - Kuwaiti dinar.
"The funds, mainly drawn from the World Bank, the Japan International Cooperation Agency, the Asian Development Bank, Islamic Development Bank, the European Bank for Reconstruction and Development and other international financial institutions, were directed to support the economic reform programs, restoration and reconstruction of infrastructure, including construction of roads, improvement of water supply system in the districts, the development of railway services, as well as industry and other areas," the statement says.
The official exchange rate is 0.7853 AZN/USD Feb. 18.
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