TODAY.AZ / Business

IMF offers "Stand by" program to Azerbaijan

27 March 2006 [13:54] - TODAY.AZ
The form of the future cooperation between the International Monetary Fund and Azerbaijan has not been defined yet.

Azerbaijan, who doesn't need the credits of the fund, wants the cooperation to differ from the former ones.

Meanwhile, the currency fund offers "Stand by" future cooperation program to Azerbaijan. This program intends to support macro economical stability. And the main content of discussion with the government figures will be the same program when the mission visits Baku for a week, ANS informs.

Azerbaijan government doesn't object to realize the program. The strategy of Azerbaijan can be affirmed at the sitting of the fund's directors' council, which will be held in May.

Meanwhile, this kind of cooperation will be characterized as advice.

According to this program the government will use credits only in extraordinary situations, says Bazel Zavoyko, the head of currency fund Baku agency.

Thus, the fund won't allocate credits to Azerbaijan if there's no any need. But if there's any case, damaging the macro economical stability, falling in oil price for example, Azerbaijan will be able to take credit from the fund.

URL: http://www.today.az/news/business/24470.html

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