Wednesday, May 10, 2006
Foreign debt of Azerbaijan totals over $1.5 billion
05-10-2006 Regnum - On April 1, 2006 whole Azerbaijan’s foreign debt totaled $1.741 billions. Share of foreign obligations totals 11% of expected 2006 GDP. Foreign debt per capita totals $207. In accordance with signed credit agreements, foreign debt guaranteed by government totaled $3.517 billions on April 1. The country’s foreign debt increased by $90 millions in connection with usage of credits to realize project of Sumgait combined-cycle plant’s construction ($47 millions), first tranche of World Bank loan to reduce poverty (about $20 millions), and financing of other projects during first quarter. Over an accounting period payments for borrowed credits totaled $33 millions, $26 millions of which are repaid from main loan debt, and $7 millions — for interest. Repaying from budget funds totaled $3.3 millions, the Azerbaijani Finance Ministry informs.