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Azerbaijan posts 14% rise in foreign debt

Azerbaijan posts 14% rise in foreign debt

16 February 2010 15:56 (UTC +04:00)

At the same time, the foreign debt to gross domestic product (GDP) ratio was 7.95%.

The major part of government-secured loans is for the realization of investment projects.
These loans amount $ 3 094.86 million or 90.45% of total foreign debt, including 39.74% for electricity generation sector, 3.65% for rural development, 9.05% for water supply and melioration, 25.38% for roads and infrastructure etc. the loans for economic reforms stood at $326.91 million or 9.55% of foreign debt in total ($61.96 million from IMF and $264.96 million from the World Bank).

The government funds for foreign debt service reached $107.9 million.

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