ADB appreciates Azerbaijan’s borrowing policy

Asian Development Bank supports Azerbaijan’s liberal policy pursued in foreign borrowing sphere.

Economist of ADB’s representation in Azerbaijan Nail Valiyev noted that at present, foreign state debt of Azerbaijan made $3.7 bln and it is equal to 4.9% of GDP: "If we take currency reserves of the State Oil Fund and Central Bank into account, then we will see that Azerbaijan’s foreign state debts are not so much and the state may pay its debt anytime. In general, currently, Azerbaijan is continuing its liberal policy in foreign borrowing and ADB supports this policy".

Note that, Azerbaijan is a member of ADB since 1999. Bank’s active portfolio on Azerbaijan is $680 mln.


/APA/