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Strategic currency reserves exceed country’s external debt by 4.1 times – central bank

The strategic currency reserves of Azerbaijan have exceeded the external debt of the country by 4.1 times and amounted to more than $37.6 billion as at the end of 2016, the Central Bank of Azerbaijan (CBA) reported.

“The strategic currency reserves were preserved at the necessary level and are sufficient for covering import of goods and services within 28 month,” the report reads.

 

The volume of the strategic currency reserves was equal to GDP.

 

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