Azerbaijan approves new loan agreements with int'l organizations worth $235M

Last year, Azerbaijan approved new loan agreements with international financial institutions totaling $235 million, Olaylar informs referring to the Ministry of Finance.

At the event, it was also noted that last year, as a result of the efficient use of treasury funds, public debt servicing expenses decreased by 300.1 million manats ($176.529 million). At the same time, short-term bonds were replaced with long-term ones as part of refinancing operations, which had a positive impact on the debt portfolio structure. The average maturity of government bonds increased significantly to 3.3 years.

In accordance with its functional responsibilities, the Agency for Public Debt and Financial Liabilities Management implements public borrowing and ensures the accounting, reporting, and analysis of debt commitments. In coordination with other government agencies, cooperation has been established with international rating agencies to assess Azerbaijanchr("39")s sovereign credit rating.

The chairman of the board gave relevant instructions regarding the expansion of the application of international experience in the field of public debt management in Azerbaijan, the preparation of the document "Public Debt Management Strategy" for 2026-2030, and the improvement of a number of legal institutional frameworks in accordance with the agencychr("39")s areas of activity.