Baku, Azerbaijan, Oct. 6
By Maksim Tsurkov – Trend:
Azerbaijani Finance Minister Samir Sharifov will participate in the annual meeting of the International Monetary Fund (IMF) and World Bank (WB), said a message posted on the Azerbaijani Finance Ministry’s website Oct. 6.
The annual meeting of the IMF and the WB Group will be held in Washington DC on Oct. 6-9.
“An Azerbaijani delegation, headed by Sharifov, will participate in the meeting,” the message said. “Senior representatives of IMF and WB member-states, international financial institutions, representatives of private sector and civil society will attend the meeting.”
According to the message, the current state of the world economy, the main directions of future development, poverty reduction and effectiveness of financial support, as well as the challenges facing the world economy will be discussed at the meeting.
IMF office was opened in Baku in 1992. The organization allocated $577.3 million worth of loans to Azerbaijan in 1995-2005 to support the economic reform programs.
Azerbaijan has fully repaid the IMF loans.
Azerbaijan has seen no need for financial resources of IMF since 2005. Therefore, the two parties have been cooperating in consultations and technical assistance missions on key areas of macroeconomic policy since 2006.
Azerbaijan joined the WB in 1992.
As of Sept. 1, 2016 the WB has allocated $3.99 billion worth of loans to Azerbaijan.
The funds have been directed for financing of more than 70 projects. Azerbaijan has used about $2.9 billion or 72.56 percent of all loans allocated through the WB.
Moreover, the WB allocated 45 grants worth $41.586 million for Azerbaijan in 1995-2014.
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