IMF to send mission to Azerbaijan to mull economic reforms

  13 September 2017    Read: 1340
IMF to send mission to Azerbaijan to mull economic reforms

An International Monetary Fund (IMF) mission will visit Azerbaijan in the first half of December, Jihad Azour, director of the IMF Middle East and Central Asia Department, told a press conference in Baku Sept. 13.

He noted that the mission’s goal will be to discuss forecasts on Azerbaijan’s 2018 state budget and the results of implementation of economic reforms in the country. Also, Article IV consultations are expected to be held with the Azerbaijani government.

“Forecasts for the state budget and macroeconomic indicators of Azerbaijan, as well as the results of the implemented reforms, will be discussed. This will help us know the results of the measures taken by the government, and can influence our forecasts for Azerbaijan.”

The IMF office was opened in Baku in 1992. In 1995-2005, the Fund allocated loans worth $577.3 million to Azerbaijan. Azerbaijan fully repaid the loans.

There has been no need for Azerbaijan to apply to the IMF for financial resources since 2005. Therefore, since 2006, the IMF and Azerbaijan have cooperated within the framework of consultations and technical assistance missions in main areas of macroeconomic policy.

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