Azerbaijan’s foreign debt per capita has registered a 17% increase over the last year – US $300.1 up to US $350.9, Vesti.az reported, referring to the RA Ministry of Finance of Azerbaijan.

By July 1, 2009, Government-secured foreign borrowings or foreign debt have totaled US $3.072bln – an annual increase of 15.7%.

By the end of the first half of this year, Azerbaijani government agencies and resident companies had borrowed over US $7.179bln under loan agreements.

Thus, Azerbaijan’s debt to the International Monetary Fund (IMF) and World Bank (WB) totals US $333.6mln.

Most of the funds were borrowed under investment projects – over US $2.7bln or 89% of the total debt.

In the first half of this year, a total of US $216mln were utilized, with US $131.7mln directed to the service of Azerbaijan’s foreign debt.