BAKU, Azerbaijan, June 16. Azerbaijan
repurchased $2 billion worth of eurobonds in the first quarter of
2026, according to the Central Bank of Azerbaijan, Trend’s correspondent
reports from the briefing.
Samir Nasirov, Director of the Statistics Department at the
Central Bank of Azerbaijan (CBA), said the development contributed
to a shift in the country’s primary income balance into surplus for
the first time in recent years.
According to Nasirov, the surplus was mainly driven by interest
and dividend income generated from foreign direct investments made
by Azerbaijani entities in the oil and gas sector.
He said that in previous years, significant foreign investments
were made abroad, and the resulting income was either reinvested or
retained overseas to generate additional returns in future
periods.
According to the Central Bank official, more detailed data on
these flows will be reflected under the “other income” category in
the balance of payments.
Nasirov also commented on rising money transfers to Ireland,
saying such flows are highly volatile and are largely related to
transactions conducted by individuals through remittance
systems.
He said these transfers mainly consist of financial assistance
and similar personal payments, adding that “there is nothing
unusual” in the trend.
According to Nasirov, the capital and financial account deficit
was primarily driven by a decline in portfolio investment flows,
which fell by $2 billion.
He said the decline was linked to the repurchase of eurobonds
issued under the Southern Gas Corridor project.
According to the official, $2 billion was initially raised
through eurobond issuance, and these securities have now been
repurchased and fully repaid, which was the main factor behind the
deficit in the capital and financial account.
