IMF staff visit to Azerbaijan concluded

Baku, March 4, AZERTAC

Minister of Finance of the Republic of Azerbaijan Samir Sharifov has received a delegation of the International Monetary Fund (IMF) for Azerbaijan led by Mission Chief Mohammed El Qorchi.

At the meeting, the views were exchanged on the measures implemented by the authorities to ensure macroeconomic stability and resumption of sustainable economic growth in the country.

The IMF mission was informed about the policies on fiscal consolidation, monetary tightening as well as recent efforts made by the authorities for the rehabilitation of the banking sector of Azerbaijan.

Underlining importance of public financial management reforms as well as actions aimed at the soonest recovery of banking sector of the country, Mr. El Qorchi expressed the mission’s full support of these measures.

The discussions were held also about the prospects of cooperation in provision of technical assistance to the Central Bank of Azerbaijan on streamlining monetary and exchange rate policies as well as to the Ministry of Finance on development of medium-term budgetary planning capacity and macro-fiscal framework.

It was agreed to hold a regular Article IV consultations between the IMF and the Government of Azerbaijan in November of the current year.

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