TODAY.AZ / Business

Azerbaijan to repay debts owed to international organizations ahead of schedule

11 April 2007 [23:06] - TODAY.AZ
It is expedient for Azerbaijan to repay the debts owed to the international financial institutions ahead of schedule, the Cabinet’s Financial Policy Officer Ogtay Hagverdiyev told.

He said that the ahead-of-schedule repayment will enable the country save funds, APA reports.

"It would be more opportune to repay the foreign debts during 2012 and 2013 when Azerbaijan will earn between $20 billion and $30 billion annually in oil revenues," he added.

Azerbaijan’s foreign debt totaled to $1.972 billion (9.9% of GDP), of which $135 million (6.8%) owed to the International Monetary Fund and $259.1 million to the World Bank.

URL: http://www.today.az/news/business/39214.html

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