Baku, Azerbaijan, Jan. 30
By Azad Hasanli - Trend:
The ministry of economy of Azerbaijan and the International Monetary Fund (IMF) discussed the measures to minimize the negative impact of instability in global energy markets on the country's economy, the message of the ministry said.
Expansion of cooperation, priorities in Azerbaijan's economy, etc. were also discussed during the meeting of the head of the ministry Shahin Mustafayev with the IMF delegation, according to the message.
A meeting of the IMF delegation with Executive Director of the State Oil Fund of Azerbaijan Shahmar Movsumov also took place.
In light of recent events, it was stated at the meeting in the first place that the IMF and Azerbaijan aren't in talks to attract emergency aid package from international financial institutions.
It was stressed that the country has sufficient foreign exchange reserves, the macroeconomic situation in the country is stable and sustainable.
Transition to a new economic model within the framework of economic strategy put forward by Azerbaijani President Ilham Aliyev, prospects of cooperation between Azerbaijan and the IMF in this field and other matters were discussed at the meeting with the IMF representatives.
Azerbaijan joined the IMF in 1992. The cooperation was particularly intense in 1995-2005. During these years, Azerbaijan often used IMF's advisory and financial assistance to support the government's economic programs.