Azerbaijan’s strategic currency reserves have reached $80 billion, according to First Deputy Minister of Finance Anar Karimov, who spoke during a panel session at the 2nd Azerbaijan Halal Business Forum (AZHAB) in Baku.
Karimov noted that the country’s external public debt stands at around $5 billion, meaning Azerbaijan’s reserves are now 16 times greater than its debt.
“Azerbaijan’s financial stability has been affirmed by all three leading international rating agencies-Moody’s, Fitch, and S&P,” said Karimov, adding that the country’s outlook has been upgraded to “positive” and “stable.”
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The deputy minister also announced that Azerbaijan has been shortlisted to host the 2029 Annual Meetings of the World Bank and the International Monetary Fund (IMF).
An evaluation mission is expected to visit Baku in December 2025 to assess the country’s readiness for hosting the event.
Karimov added that Azerbaijan continues to expand cooperation with key financial institutions, including the Islamic Development Bank (IsDB), World Bank, and Asian Development Bank (ADB).
“Next year, Azerbaijan will host the annual meeting of the Islamic Development Bank, which will provide a valuable opportunity to focus on halal certification and Islamic finance,” he said.
The AZHAB Forum gathered government officials, financial experts, and business leaders to discuss opportunities for the growth of halal industries and ethical finance across the Islamic world.
