Azerbaijan’s strategic foreign currency reserves are large enough to cover 41 months of the country’s imports, Central Bank of Azerbaijan (CBA) Governor Taleh Kazimov said at the 2nd Azerbaijan International Investment Forum in Baku.
Azerbaijan’s strategic foreign currency reserves are large enough to cover 41 months of the country’s imports, Central Bank of Azerbaijan (CBA) Governor Taleh Kazimov said at the 2nd Azerbaijan International Investment Forum (AIIF 2026) in Baku.
Kazimov noted that rating agencies Fitch and Moody’s have assigned Azerbaijan investment-grade sovereign ratings. He said these ratings, together with the country’s strong macroeconomic performance and financial stability, are key factors underpinning investor confidence.
The governor recalled that the manat’s exchange rate has remained unchanged since 2017. He said Azerbaijan’s total strategic reserves stood at $90.8 billion at the end of August, a figure that exceeds the country’s annual gross domestic product (GDP).
Kazimov also said the strategic reserves are 3.5 times larger than the broad money supply in manat, while the country’s external public debt amounts to just 6% of GDP.
He added that dollarization has continued to decline: the share of foreign currency deposits held by resident individuals in the total deposit portfolio has fallen to a historic low of 25.8%.
