Baku, Azerbaijan, Feb. 14
By Azad Hasanli – Trend:
As of January 1, 2018, the external public debt of the Republic of Azerbaijan constituted $9,398.3 million (equivalent 15,978.1 million manat), the Azerbaijani Finance Ministry said Feb. 14.
The Debt to the Gross Domestic Product (GDP) ratio stands at 22.8 percent (based on 2017 GDP of 70,135.1 million manat). The external public debt consists of direct obligations of the state as well as contingent liabilities emanating from sovereign guarantees.
The external public debt comprises of loans attracted from international financial institutions to finance infrastructure projects and programs, as well as government bonds issued in the international financial markets.
As of July 1, 2017, Azerbaijan's external public debt amounted to $7,172.6 million, which is 18.9 percent of the country's GDP.