Azerbaijan's external public debt stood at $4,616.8 million as of July 1, accounting for 6 percent of the country's projected gross domestic product (GDP) for 2026 of 130,873.5 million manats ($76,984.4 million).

Operativ Media reports, citing the Ministry of Finance, that external public debt declined by $196.7 million, or 4.1 percent, in absolute terms compared to the beginning of 2026. The decrease was driven by $233.4 million in scheduled principal debt repayments and a $20.4 million drop in the US dollar valuation of debt due to foreign currency depreciation against the greenback, offset by $57.1 million drawn down under loan agreements during the first half of the year.

As of July 1, the ratio of external public debt to GDP fell by 0.3 percentage points compared to the start of 2026.

As of the reporting date, variable-rate obligations accounted for 49.4 percent of total external public debt, while fixed-rate debt represented 50.6 percent.

By creditor composition, the Asian Development Bank holds the largest share of the external debt portfolio at 35.7 percent, followed by Eurobonds at 30 percent and the World Bank at 12.9 percent. The remaining 21.4 percent is owed to the Islamic Development Bank, the European Bank for Reconstruction and Development, the Japan International Cooperation Agency, the Asian Infrastructure Investment Bank, and other creditors.