TODAY.AZ / Business

IMF's mission to visit Baku April 12-18

24 March 2006 [10:56] - TODAY.AZ
Delegation led by the Deputy Chief of the Near East and Central Asia Department of the International Monetary Fund (IMF) Vitaly Kromarenko will visit Baku April 12-18.

According to APA, the principal goal of the visit is discussion of future cooperation lines and formats between the government of Azerbaijan and IMF.

The members of the mission will hold meetings with government officials during the visit. According to initial information, IMF agrees to continue cooperation with Azerbaijan on the Stand-By program. It provides that the Fund will render aids to our country to ensure macroeconomic stability and economic development. Credits to be granted to Azerbaijan under the program can be used by the government only in case of occurrence of extraordinary cases. It is interesting that the Azerbaijani side intends to continue further cooperation with IMF mainly in form of technical assistance provision.

The period of implementation of the last three-year cooperation program (Poverty Reduction and Growth Facility - PRGF) between IMF and Azerbaijan completed last year.

Azerbaijan has been cooperating with IMF since 1992 and the quota of our country in the Fund is 160.9 million SDR (Special Drawing Rights). Volume of liabilities of the republic to the Fund totaled $164.6 million.


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