Foreign Debt in Azerbaijan to widen on low oil prices
Development, Center for Economic and Social | June 2016
Abstract
Foreign state debt of Azerbaijan amounted to 7,449 billion US dollars (11,4867 billion manat) as of April 1, 2016. The ratio of external debt to GDP ratio is 21.0 %. According to the Ministry of Finance of Azerbaijan, debt structure includes direct obligations of the state and contingent liabilities on borrowed loans under the state guarantees. Thus, 82.3% of public debt raised from the World Bank, the Asian Development Bank, Islamic Development Bank, the European Bank for Reconstruction and Development, the Japan International Cooperation Agency and other international financial institutions funding for various projects in the country. 17.7% of the funds raised through the placement of securities in the international financial markets.
CESD has underlined that Azerbaijan’s foreign debt’s share in GDP became as a double digit number in the GDP first time after the second devaluation of the manat of in the last decade. The country has been able to keep share of the foreign debt in the GDP as a single digit number by 2015 since 2005.
Citation
Development, Center for Economic and Social. 2016. Foreign Debt in Azerbaijan to widen on low oil prices. © Center for Economic and Social Development. http://hdl.handle.net/11540/10240.Keywords
Macroeconomic
Macroeconomic Analysis
Macroeconomic Framework
Macroeconomic Models
Macroeconomic Performance
Macroeconomic Planning
Macroeconomic
Policies
Macroeconomic Reform
Macroeconomic Stabilization
Oil and Gas Industry
Development cooperation
Petroleum Industry
Transport Industry
Social condition
Economic dependence
Economic assistance
International monetary relations
International monetary relations
International trade
National accounting
Market
Petroleum Refineries
Petroleum Products
Petroleum Prices
Petroleum
Crude Oil
Petrochemical Industry
Export Oriented Industries
Exchange
Exchange rates
Comparative economics
Index number
Monetary policy
Value analysis
Adjustment cost
Transaction cost
Conditionality
International relations
Oil refineries
Gasoline
Oil
Debt
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