Baku, Azerbaijan, Nov. 25
By Anvar Mammadov - Trend:
As of October 1, 2016, the volume of Azerbaijan's foreign state debt amounted to $7.651 billion (12.403 billion manats), that is, 20.1 percent of the country's GDP, Azerbaijan’s Finance Ministry said in a message Nov. 25.
The official exchange rate is 1.7196 AZN/USD as of Nov. 25.
The statistics on borrowings includes Azerbaijan’s direct obligations and contingent obligations on the loans, drawn under state guarantee.
As of October 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 of the funds were drawn through the securities placed on the international financial markets.