Azerbaijani Finance Ministry seeks to improve public debt management

Azerbaijani Finance Ministry seeks to improve public debt management

Economy
21 May 2019, 14:31 90
At the beginning of this year, the strategy of regulating Azerbaijan’s public debt allowed reducing the debt in foreign currency from 24 percent to 19 percent of the country’s foreign exchange reserves, Azerbaijani Finance Minister Samir Sharifov told reporters in Baku May 21, Trend reports.
He noted that this indicator in the first quarter of this year is slightly different from the figures for the beginning of the year.
"One of the important tasks of state policy is to improve public debt management,” he said. "In this regard, Azerbaijan plans to develop mechanisms to improve public debt management. We plan to reduce public debt in foreign currency and replace it with national currency debt.”
He noted that such a scheme will make it possible in many ways to increase the sustainability of the regulation of public debt.
Azerbaijan’s direct and guaranteed external debt amounted to $8.927 billion as of January 1, 2019, while in 2018, it decreased by 5 percent.