Ilham Aliyev: Reduction of foreign debt, I think this plan is done

Reduction of foreign debt, I think this plan is done, said President Ilham Aliyev during his speech at the Azerbaijan-Latvia business forum, Report informs.

Ilham Aliyev noted Azerbaijan has a foreign debt which is equal to 6.1% of its GDP.

"Our currency and gold reserves exceed the foreign debt by more than 18 times. So in other words, we could reduce our foreign commitments to zero within probably a couple of months," the Azerbaijani president said.

"But of course, there is a big demand for additional investments, primarily aimed at the reconstruction and rehabilitation of the liberated territories of Garabagh and East Zangezur. Investment priorities are clear; probably we already discussed them partly and will continue to discuss."