Further cooperation between Azerbaijan and International Monetary Fund (IMF) will be of consultative character, Avez Alakbarov, the Minister of Finances, told Trend in an exclusive interview. Under the new recommendations, the IMF offers the government to reconsider additional budget and non-budget expenses. The IMF recommends not to increase expenses, but to suspend the use of the funds of the State Oil Fund of Azerbaijan,” the minister underlined.
“Is not dealt with the reconsideration of the 2006 public budget. Simply, the funds allotted for the projects, that we fail to finance, should not be directed at other objectives,” Alakbarov underlined.
The vacancies are still left at the state institutions financed from the public budget and the salaries saved in this respect should not used as well.
Along with it, the IMF offers the government to improve the corporate governance in the state enterprises and strengthening enterprise and companies. One of the recommendations concern the completion of the privatization of state banks вЂ" the International Bank and Kapitalbank вЂ" in 2007. “In principle, they are only proposals. The Fund cannot put forward requirements as earlier, for Azerbaijan will not receive credit from the IMF as earlier,” Alakbarov underlined.