ECONOMY


Azerbaijan, IMF launch Article IV consultations

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Baku, May 19, AZERTAC

The government of Azerbaijan and the International Monetary Fund (IMF) have embarked on Article IV consultations as Finance Minister Samir Sharifov met with head of the International Monetary Fund (IMF) mission on Azerbaijan Mohamed El Gorchi.

The IMF`s country surveillance is an ongoing process that culminates in regular comprehensive consultations with individual member countries, with discussions in between as needed. The consultations are known as "Article IV consultations" because they are required by Article IV of the IMF's Articles of Agreement. During an Article IV consultation, an IMF team of economists visits a country to assess economic and financial developments and discuss the country's economic and financial policies with government and central bank officials. IMF staff missions also often meet with parliamentarians and representatives of business, labor unions, and civil society.

They discussed the state of macroeconomic, financial and banking sectors as well as budget parameters in Azerbaijan, and the government`s measures to neutralize the negative effects of external shocks on the national economy.

The mission will have meetings with major economic institutions in Azerbaijan.

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