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.
|
