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IMF: Azerbaijan’s strategic currency reserves to exceed $71 bln over next 5 years

09 April 2025 14:06 (UTC +04:00)

Azerbaijan’s strategic foreign currency reserves are projected to amount to $71.67 billion in 2025, this was stated in the forecast of the International Monetary Fund (IMF), APA-Economics reports.

The Fund forecasts that Azerbaijan’s strategic reserves will reach $72.36 billion in 2026, $72.22 billion in 2027, $71.75 billion in 2028, and $72.18 billion in 2029.

The main portion of the strategic currency reserves consists of assets held by the State Oil Fund of Azerbaijan (SOFAZ). The IMF estimates that SOFAZ assets will increase to $60.91 billion in 2025, $61.797 billion in 2026, and $61.864 billion in 2027. The assets are projected to decline slightly to $61.594 billion in 2028, before rising again to $62.222 billion in 2029.

The IMF also forecasts that the foreign currency reserves of the Central Bank of Azerbaijan (CBA) will follow a declining tendency over the next five years. The Fund expects the CBA’s reserves to amount to $10.76 billion this year, $10.56 billion in 2026, $10.36 billion in 2027, $10.16 billion in 2028, and $9.96 billion in 2029.