On January 28 representatives of the IMF are coming to Baku for a week’s visit.
In the same period, the missions of other international financial and credit institutions - the Asian Development Bank and the European Bank for Reconstruction and Development – will visit Azerbaijan.
According to the Financial Times, Baku is also negotiating with the World Bank for a loan of 4 billion dollars.
In addition, recently Baku signed an agreement with the Asian Development Bank for a loan of 1.1 billion dollars.
"If the negotiations are successful, only for the current year Azerbaijan will get more debt than in the past 20 years," the newspaper said.
Given the decline in GDP in dollar terms, the size of the external debt will rise twofold for the year.
Note that a few years ago the Azerbaijani authorities considered the conditions of the IMF's lending predatory and actually expelled the organization from Azerbaijan in 2009.
For all the time of the IMF work with Azerbaijan (1992-2009), the country received loans totaling $ 363 million dollars, of which 248 million USD was in soft loans. The loans were issued in tranches for economic reforms. The last IMF loan dates back to 2005. After this period, despite the IMF's proposals, Baku, citing strengthening of its financial position, considered the IMF services unprofitable. -03D-
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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