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IMF mission head will arrive to Azerbaijan in first half of May

04 May 2005 [15:24] - TODAY.AZ
The head of mission of the International monetary fund (IMF) Vitaliy Kramarenko is to arrive to Azerbaijan 8-9 May.
The agency Trend reports, Baku representative office of IMF informs, the technical mission is to arrive  to Baku 3 May. The purpose of the visit of the mission is conducting of the fifth review on program of poverty eradication PRGF.

The work of technical mission is to start from 4 May. It is planned to conduct several meetings with representatives of the ministries of finances, economic development and tax, and also National bank of Azerbaijan.
During the first day of his visit to Azerbaijan V.Kramarenko is to conduct protocol meetings with the Prime-minister of Azerbaijan Artur Rasizade, State advisor on economic policy Vahid Akhundov, ministers of finances Avaz Alekperov and of economical development Farhad Aliyev and the chairman of national bank of Azerbaijan Elman Rustamov

The visit is to last till 18 May.

The head of the Baku representative office of IMF Bazil Zavoyko  informed, during the visit it is planned to discuss several main issues,  particularly, the problem of evaluation of the high level of inflation,  observed for the first months of 2005; continuation of achievements in energy  reform, including improvement of management of key energy companies and  realization of target social assistance to vulnerable layers for compensation  of increase of energy tariffs, increase of competitiveness at financial  market, stabilization of the process of development of the budget.

The head of the mission of International monetary fund (IMF) to Azerbaijan Vitaliy Kramarenko was in Baku in his new status only once from 8 to 18 February. That time his visit was of introductory character.  V.Kramarenko replaced the advisor of the director of Department on states of Near East and Central Asia John Wakemann-Linn, whose authorities expired in the end of 2004.

IMF transferred finances of the fifth tranche of financing on PRGF (SDR 12,87 mln or $19.7 mln) to the accounts of National Bank of Azerbaijan 11  January, executive board of the fund approved this amount 22 December. Thus, Azerbaijan spent SDR 54,71 mln (about $83,9 mln) from budget of PRGF.  Executive of IMF in connection with impossibility of conducting of the sixth  review of the progress on program 22 December 2004, decreased its budget from  SDR 80,45 mln (about $123,4mln) to SDR 67,58 mln (about $103,6 mln) and  extended its effectiveness till 4 July 2005.

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