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.
