Azerbaijan Unlikely to Get Loans from International Financial Institutions

Last week’s negotiations of the missions of international financial institutions with the leadership of Azerbaijan were difficult and fruitless.

As it became known to Turan from unofficial sources, in response to the request for credits, five requirements were billed: wide privatization, reduction of the state apparatus, a real judicial reform, the freezing of wages, pensions and public spending, and accession to the WTO.

According to the same source, of the five conditions the country's government agreed only to the first two. In consequence of that, the international organizations considered the issuing of loans impossible.

This gives reason to believe the government is not ready to conduct serious anti-crisis reforms.

According to the Financial Times, the Azerbaijani authorities planned to get loans of 4 billion USD from the IMF and the World Bank. However, the President denied the reports, calling them "false information from anti-Azerbaijani forces," and added that Azerbaijan does not need foreign financial assistance. -02B-