Azerbaijan, Baku, 24 January / corr. Trend I. Khalilova / The International Development Agency of US (USAID) has sent consultants to Azerbaijan to provide technical assistance to the National Bank of Azerbaijan (NBA) in 5 directions, Emin Huseynov, the head of the Statistics and Investigations Department of the National Bank of Azerbaijan said.
According to Huseynov, the consultants will provide their services in various directions including human resources, the elaboration and implementation of the monetary policy of NBA and of bank watchdog, money laundry and information technology. The foreign experts will assist in the developing of the methods of financial stability analysis and the diagnostical analysis of the central database of NBA, econometric modeling, the holding of trainings on macroeconomics theory, disclosing vulnerable moments and in submitting the schedule.
Technical assistance will be provided only for two years.
It is the second year that USAID is rendering technical assistance to the NBA. The first assistance program was completed in June 2007. Technical assistance of the new program will be intended not only for the NBA but also the Azerbaijan Economic Development Ministry.
Several training sessions have been held with the participation of leading specialists from Central Banks of Britain, France and Holland. The employees of the National Bank have been sent on a mission to Turkey and Poland for practical training in actual situations developed by Central Banks of these countries.
The National Bank and USAID have a long-term technical assistance program covering all directions of the Bank