The Azerbaijan State News Agency

ECONOMY

EBRD hails Azerbaijani government`s efforts to restructure largest bank, IBA

16.12.2017 [10:20]
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Baku, December 16, AZERTAC

The European Bank for Reconstruction and Development (EBRD) has commended the government of Azerbaijan for its efforts to restructure the International Bank of Azerbaijan.

In its Transition Report 2017-18: Sustaining Growth, the EBRD said: “In Azerbaijan, authorities have made progress with the restructuring of the country’s largest bank, IBA, in preparation for its eventual privatisation.”

The EBRD says it has seen a welcome upturn in the pace of reform in emerging economies where the Bank invests, four years after reporting that reforms were stalling or even being thrown into reverse.

In the Transition Report 2017-18: Sustaining Growth, the EBRD documents both progress and setbacks in reforms from the past year and sees many remaining challenges.