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Azerbaijan’s foreign state debt exceeds 20% of GDP

Business Materials 14 June 2016 20:19 (UTC +04:00)
As of April 1, 2016, the volume of Azerbaijan’s foreign state debt amounted to $7.449 billion (11.486 billion manat), that is, 21 percent of the country's GDP, the country’s ministry of finance said June 14.
Azerbaijan’s foreign state debt exceeds 20% of GDP

Baku, Azerbaijan, June 14

By Azad Hasanli - Trend:

As of April 1, 2016, the volume of Azerbaijan's foreign state debt amounted to $7.449 billion (11.486 billion manat), that is, 21 percent of the country's GDP, the country's ministry of finance said June 14.

The official exchange rate is 1.512 AZN/USD as of June 14.

The statistics on borrowings includes the country's direct obligations and contingent obligations on the loans, drawn under state guarantee.

As of April 1, the currency structure of loans is as follows: 82.3 percent of the funds were drawn for the implementation of various projects from the World Bank, the Asian Development Bank, the Islamic Development Bank, the European Bank for Reconstruction and Development, the Japan International Cooperation Agency and other international financial institutions, 17.7 percent - through the securities placed on the international financial markets.

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