$190 foreign debt per person

Azerbaijan currently owes a total of $1.555 billion to international financial institutions and foreign countries, as compared to $1.356 billion early in 2003. The overall foreign debt per person in the country thus currently amounts to $190.

The Finance Ministry Foreign Economic Relations Department has told AssA-Irada the total amount of foreign debt made up 21% of the Gross Development Product (GDP). $471 million of the amount is earmarked for economic reforms, while the remaining $1.084 million on investment projects.

A total of $153.6 million was repaid in 2003 and $143 million is expected to be repaid by the government of Azerbaijan this year.*