Azerbaijan fully repays debt to IMF
Baku, Azerbaijan, March 7
By Azad Hasanli - Trend:
Azerbaijan has fully repaid the debt to the International Monetary Fund (IMF), according to a report on the activities of the country's cabinet of ministers for 2015 expected to be discussed in the Milli Majlis (the country's parliament) March 15, 2016.
Azerbaijan has received IMF loans for the support of economic reforms from 1995 to 2005. During this period, the amount of financial support reached $577.3 million.
Since 2005, Azerbaijan sees no need for financial resources of the IMF, so since 2006, the cooperation with the fund is implemented within the framework of consultations and technical assistance on key areas of macroeconomic policy.
Thus, six missions of the fund visited Azerbaijan in 2015. Despite rejection of the IMF's financial support, the fund remains an important partner of the country's government.