Azerbaijan's State-Guaranteed Debt Falls 24% in Nine Months
As of October 1, Azerbaijan's state-guaranteed debt stood at 7.886 billion manats (5.7% of GDP), down 24% from the start of the year.
According to the Ministry of Finance, the significant decrease was mainly due to the Southern Gas Corridor CJSC repaying $2 billion in foreign-currency bonds issued under state guarantee. Of the total guaranteed debt, 4.858 billion manats (61.6%) comes from external loans, while 3.028 billion manats (38.4%) comes from domestic loans. Fixed-rate debt makes up 52.2% of the portfolio, with variable-rate debt accounting for 47.8%. By currency composition, the US dollar represents 57.9%, the euro 19.4%, the manat 16.2%, the Japanese yen 4.6%, and other currencies 2%.
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