CBA Head Holds Consultations with IMF Mission

Questions of the macroeconomic situation, the development of non-oil sector, economic processes, the new regime of currency regulation management strategy were discussed during the meeting of the head of the Central Bank of Azerbaijan Elman Rustamov and the advisory mission of Article IV of the IMF Agreement, headed by Mohammed al Gorchi.

According to the press service of the CBA, the mission commended steps to ensure the stability of the economy, support the financial stability, the banking sector rehabilitation, and management of currencies exchange rate.

It was noted that the new policy regulating currency exchange rate provides an additional incentive for the development of the economy, strengthens its international competitiveness and export potential, which ensures the stability of the international balance of payments and the country's solvency.

At the meeting the sides discussed issues of cooperation between the IMF and Azerbaijan.

The IMF mission held talks with the Minister of Finance Samir Sharifov.

The IMF supported the government's actions and agreed to maintain close political dialogue and to strengthen technical assistance. -0-