TODAY.AZ / Business

IMF backs Azerbaijan’s economic reforms

26 May 2016 [12:15] - TODAY.AZ

/By Azernews/

By Rashid Shirinov

The International Monetary Fund (IMF) is ready to support the economic reforms ongoing in Azerbaijan.

Christine Lagarde, the IMF Managing Director spoke to Azerbaijan's Finance Minister Samir Sharifov at the 9th Astana Economic Forum in Kazakhstan.

"The parties expressed their mutual interest in IMF’s support of economic reforms held in Azerbaijan, both with the participation of relevant experts and at the level of technical assistance", Azerbaijan's Finance Ministry informed May 25.

Lagarde noted that the IMF supports Azerbaijani government’s actions on protecting the interests of local manufacturers and saving the country's reserves.

During the Astana visit, Sharifov attended the 9th Astana Economic Forum. Speaking at a round table, Sharifov told about the activities implemented under the leadership of President Ilham Aliyev to soften the negative effect of external economic shocks on the macroeconomic condition of Azerbaijan.

IMF's office has operated in Baku since 1992. The last visit of the IMF mission to Azerbaijan was on May 20. President Ilham Aliyev met with Muhammad al Gorchi, Head of the IMF mission to the country.

El Gorchi highly appreciated the measures taken by the Azerbaijani government to eliminate the complications caused by the global economic crisis. He noted that devaluation of the manat and other measures have protected national production in Azerbaijan and boosted exports in non-oil sector.

He described the steps taken by the Azerbaijani government as brave and successful. He stressed the importance of focusing on the banking sector in the current circumstances, noting that the IMF is ready to conduct exchange of views with related institutions in Azerbaijan, support technical assistance to the country and participate in the relevant consultations.

URL: http://www.today.az/news/business/151103.html

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