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AZN 442M to be paid to IBA creditors next year

The expenditures for public debt will make up AZN 2,262,800,000 in the state budget for 2018, up AZN 621 million or 37.8% from previous year.

According to drafts of state and consolidated budgets for 2018, AZN 441.9 million will be paid to creditors of the International Bank of Azerbaijan in connection with the restructuring processes. On September 1, 2017, the government bonds in the amount of $2,265,900,000 issued by Azerbaijani government, which are denominated in foreign currency, were registered in Ireland stock exchange and submitted to the IBA creditors. For transfer of IBA liabilities to the state, the upper limit of external borrowing increased to AZN 4 billion in accordance with the amendments in the Law on state budget for 2017. 

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