Friday, August 3, 2007, #147 (1414)

Azerbaijan's foreign debt nearly USD 2 billion

Azerbaijan's foreign debt now stands at USD 1.98 billion, or USD 243 for each Azeri citizen, reports the Ministry of Finance of Azerbaijan.

The country has spent most of its foreign loans on domestic investment projects. USD 1.71 billion-some 86 percent of the total debt-have gone to development projects for the energy sector, the social sector, transport infrastructure, agriculture and the oil industry.

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