Azerbaijan's foreign debt widens 2% in H1
BAKU. Sept 7 (Interfax) - Azerbaijan's direct and guaranteed foreign debt increased 2.3% to $3.072 billion in the first half of 2009, the Finance Ministry told Interfax.
Loans received for economic reforms accounted for $333.6 million of debt in the period, down 3.3% over the first six months.
Debt on loans from the International Monetary Fund totaled $69.9 million on July 1, down 11.4%, while debt on loans from the World Bank stood at $263.7 million, down 0.9%.
Loans raised for investment projects amounted to $2.738 billion on July 1, up 3.1% from the start of 2009.
Funds raised for the power sector totaled $1.205 billion, agriculture - $113.1 million, road construction and transport - $705.8 million, oil and gas operations - $193.4, water supplies and land improvement - $276.8 million and social spheres - $162.4 million.
Azerbaijan spent $216 million worth of loans in January-June and $131.7 million on foreign debt, including $97.4 million on principle debt and $34.4 million on interest payments.
Per capital direct and guaranteed debt increased 1.7% to $350.9 in the half.