PRESIDENT OF AZERBAIJAN ILHAM ALIYEV RECEIVED IMF DELEGATION

20.11.2003 [20:41]
Print
A⁺ A^-

On 20 November, President of Azerbaijan Republic Ilham Aliyev received at the President Office the delegation of the International Monetary Fund (IMF) led by director of the Second European Department of the Fund John Odling-Smi and the Fund’s permanent representative in Azerbaijan Basil Zaboyko, President press service reported.

John Odling-Smi, on behalf of the IMF leadership congratulated Mr. Ilham Aliyev on his election as President of Azerbaijan Republic and expressed his pleasure with the economic stability in the country. Odling-Smi also noted the positive factor – low level of inflation. Representative of the International Monetary Fund estimated management and proportional use of the oil revenues in the non-oil sector as an important task for successful development of the country’s economy.

Noting that he was pleased with cooperation between Azerbaijan and IMF and that the Oil Fund functions successfully, President Ilham Aliyev said that high economic indices and budget increase makes ground for the future economic opportunities. Agreeing with IMF representative, President of Azerbaijan stressed that the non-oil sector is indeed in his focus. He underlined the rise of all economic indices, increase of GDP and stated that this tendency would be continued in future as well.

Issues of further cooperation between IMF and Azerbaijan, realization of joint projects were also discussed in the meeting.