Baku, September 13, AZERTAC

President of the Republic of Azerbaijan Ilham Aliyev has today received a delegation led by Director of the International Monetary Fund's (IMF) Middle East and Central Asia Department Jihad Azour.

Director of the IMF Middle East and Central Asia Department Jihad Azour said that as part of the trip they visited Icharishahar, adding that they were deeply impressed by the excellent preservation and the beauty of this historical heritage.

President Ilham Aliyev noted that Icharishahar was included in the UNESCO World Heritage List, underlining the Azerbaijani government's particular attention to the protection of this heritage.

Praising the long-term cooperation between Azerbaijan and the IMF, the head of state underlined Azerbaijan's keenness to continue this cooperation.

President Ilham Aliyev hailed the importance of reforms in the public administration system in Azerbaijan. He also noted the significance of purposeful measures to facilitate and further improve business environment and encourage investment making. The head of state highlighted modernization of the education system, work done to increase the educated and skilled staff potential in Azerbaijan, as well as reforms in the country's banking sector.

Describing 2017 as the year of financial stability, President Ilham Aliyev pointed out that efficient measures are being taken to ensure economic growth in 2018.

Jihad Azour noted that the IMF laudes the reforms carried out in Azerbaijan under the leadership of President Ilham Aliyev. He emphasized the importance of steps taken by the government towards eliminating the impact of the global economic crisis on Azerbaijan's economy and stabilizing the macroeconomic situation due to sharp decline in oil prices.

IMF Director of the Middle East and Central Asia Department Jihad Azour hailed the importance of the strengthening of the manat and continuation of the budget consolidation process as well as structural reforms in the country's economy. Jahad Azour also noted the importance of diversifying the economy, developing the non-oil sector and preparing the country's economy for the post-oil era.

They exchanged views on prospects for cooperation between Azerbaijan and the International Monetary Fund.