IMF supports Central Bank of Azerbaijan's policy to overcome post-crisis period

IMF supports Central Bank of Azerbaijan's policy to overcome post-crisis period

Azerbaijan, Baku, October 8 / Trend , N.Ismayilova /  

The International Monetary Fund (IMF) supports the flexible policy of the Central Bank of Azerbaijan (CBA) to overcome the post-crisis period, the head of the IMF mission in Baku Koba Gvenetadze said to press conference devoted to the presentation of the World Economic Outlook Report on Oct. 8.

"This year, the Central Bank of Azerbaijan adopted a new currency basket, but when the crisis ends, this policy must become more flexible," said Gvenetadze.

He said the CBA should obtain extensive information to make most effective control on the commercial banks. He said that the Central Bank successfully manage this, and will continue to follow this policy.

"Despite that Azerbaijan was less affected by the crisis than other countries in the region, the State should increase the effectiveness of fiscal measures," he said.

According to him, in mid-2009 the national currencies of all countries in the Middle East and Central Asia devalued in relevant to the USD, except the currencies of Azerbaijan and Turkmenistan.

"Due to the fact that the public debts were attracted by these countries in the USD, the countries which sustained devaluation will experience further difficulties in repaying the debts," said the head of the mission.

According to the IMF, growth prospects are more favorable for the energy-exporting countries. Azerbaijan and Uzbekistan are projected to experience only a moderate slowdown in 2009 and unchanged growth in 2010, since the energy prices stabilize and fiscal expansion supports domestic demand.

Do you have feedback? Contact our journalist at: capital@trend.az

Georgia reports 314 new COVID-19 cases, 270 recoveries
Georgia reports 314 new COVID-19 cases, 270 recoveries
Turkmenistan increases exports of various products to Georgia
Turkmenistan increases exports of various products to Georgia
Weekly review of Georgian capital markets (Sept.21 - Sept.25)
Weekly review of Georgian capital markets (Sept.21 - Sept.25)
Loading Bars
Latest
Azerbaijan talks on use of helicopters in operations against Armenian attacks
Armenian military objects destroyed - Azerbaijani ministry
Azerbaijani defense ministry: another tank of Armenian armed forces destroyed
Azerbaijani Defense Ministry: another Armenian officer killed
Demand of Azerbaijani commercial banks increases
CBI announces amount of loans issued to industrial and mining sector in Iran
Nagif Hamzayev: it's time to say "Stop!" to armenian government
Armenians fleeing from Nagorno Karabakh's Khankendi - Russian media outlets
Former ISESCO DG: Armenian aggression against Azerbaijan is blatant violation of int’l law
Iran discloses amount of loans issued to agricultural sectors
Georgia reports 314 new COVID-19 cases, 270 recoveries
Turkmenistan increases exports of various products to Georgia
Weekly review of Georgian capital markets (Sept.21 - Sept.25)
Ministry: Armenians changed interior of mosque in Shusha, trying to falsify history
Kazakhstan’s Oil Construction Company to buy pipes via tender
Armenian side fires at car belonging to Azerbaijani ITV channel URGENT (VIDEO)
Defense Ministry of Azerbaijan: Armenian side presents old video materials as new ones
Azerbaijani oil prices growing
Iran’s CBI reveals amount of loans issued to various sectors
Georgia reveals data on total volume of exports to Turkmenistan for several years
TAP accounts for majority of investments in Albania’s gas sector
Azercosmos: Azerbaijan's entire territory, including Vardenis-Agdere road being monitored
Azerbaijan's Defence Ministry: Colonel of Armenian army killed
Switzerland ready to host meetings in support for negotiations within Nagorno Karabakh conflict
Armenian 'Uragan' multiple launch rocket system destroyed
Azerbaijani Defense Ministry: Armenian motorized rifle regiment destroyed
Every second operation in Azerbaijan carried out contactless - Visa
Kazakhstan Railways opens tender for vehicles maintenance
Dutch media outlet highlights large-scale attacks by Armenia on Azerbaijan
UNSC emergency meeting on Nagorno Karabakh to be of informative nature - embassy
Georgia sees increase in remittances
Georgia reveals current account deficit
Public catering turnover in Baku continues to decline
Call from Members of the Nizami Ganjavi International Centre to the United Nations Security Council to Support the UN Secretary-General’s Urgent Call for an Immediate Global Ceasefire amid the COVID-19 Pandemic
High-Level International Meeting between NGIC and Chinese institutions discusses evolving world order following COVID-19 pandemic
President Ilham Aliyev receives credentials of incoming Pakistani ambassador (PHOTO)
Georgian tea export to Turkmenistan drops
Criminal case initiated on shrapnel wound of resident of Jojug Marjanli
Azerbaijani Ombudsman investigating civilian casualties from new Armenian aggression (PHOTO)
Azerbaijani armed forces destroy two more Armenian tanks (VIDEO)
International Airport commissioned in Kazakhstan’s Turkestan
Defense Ministry: No F-16 fighters in arsenal of Azerbaijan Air Force
Azerbaijani MFA: Azerbaijan carried out counter-offensive measures within its internationally recognized borders
Uzbek region prepares for stable energy supply
Azerbaijani currency rates for Sept. 29
Azerbaijani Defense Ministry: No liberated lands lost
Iranian manufacturers lose billions of dollars due to mandatory car pricing
Former Kyrgyz PM: Nobody has right to ignore UNSC resolutions on Karabakh conflict
Iran, Qatar discuss electricity exchange
Iranian currency rates for September 29
Price of machine made carpets increase in Iran
Turkmenistan takes citizens out of Belarus on another charter flight amid COVID-19
Global oil & gas market demand for large-diameter offshore pipeline to drop
Uzbekistan reveals its COVID-19 data for September 29
Erdogan thanks political parties in Turkish parliament for support of Azerbaijan
Unable to cope with Azerbaijani army, Armenian armed forces shell our settlements, civilian targets - Interior Ministry (PHOTO)
Phone talk held between speaker of Azerbaijan's Parliament, OSCE PA president
Mustafa Shentop: Turkey supports Azerbaijan with all its might
Brazil reports over 13,150 new cases of COVID-19 over the past day
Azerbaijani FM informs Ukrainian counterpart of Armenia’s latest military provocations
Iran to close down businesses due to rise in COVID-19 cases
Azerbaijani Army’s offensive operation to liberate Fizuli city continues
Defense Ministry: Territory of Dashkesan district is under fire from Armenian territory
Defense Ministry: Intense fighting continued during night (VIDEO)
Armenia reports death of 84 more servicemen
Georgia reveals volume of banking sector external debt
Canadian, British FMs call for immediate end of hostilities in Nagorno Karabakh
Turkish, UK leaders discuss situation in Nagorno-Karabakh
Kazakhstan adds almost 60 new COVID-19 cases
Global COVID-19 deaths surpass 1 million - Johns Hopkins University
Chinese mainland reports no new locally transmitted COVID-19 cases
Musk plans IPO for SpaceX's Starlink business
Israel reports 2,239 new COVID-19 cases, 233,265 in total
13 dead, 21 injured in bus crash in SE Mexico
EU launches action plan for smarter, efficient customs
Canada's Ontario reports record number of daily COVID-19 cases
Ukraine allows entry for foreigners
UK records another 4,044 coronavirus cases
Twenty-three more coronavirus patients die in Moscow in past day
Secretary General of TURKPA concerned about exacerbation of situation around Karabakh conflict
Azerbaijani MFS meets with newly-appointed Pakistani ambassador (PHOTO)
Defense Ministry: Information about downed Azerbaijani military plane is lie
UAE reports 626 new COVID-19 cases, 92,095 in total
Georgia reveals volume of gross external debt
New U.S. COVID-19 cases rise in 27 states for two straight weeks
Daily virus recoveries surpass new cases in Turkey
Kazakhstan and Sweden reaffirm readiness to further strengthen coop in culture, education
Speaker of Azerbaijani Parliament, Chairman of Pakistani Senate hold phone conversation
President Ilham Aliyev, UN Secretary General Antonio Guterres meet through videoconferencing
Azerbaijani MFA: Statement of Cyprus MFA one-sided, biased
Two brothers killed in Terter region as result of shelling from Armenian armed forces
UNSC to hold emergency meeting over Nagorno Karabakh conflict escalation
Armenian major general, two colonels killed
First footage from liberated Talysh heights (VIDEO)
Kazakhstan decreases exports to Bulgaria
Iran unveils details of exports from Isfahan Province
Georgia reveals volume of processed grapes
Azerbaijani interior ministry issues statement on curfew across country
Iranian Energy Exchange announces products to be on sale September 29
Azerbaijan's Goranboy district under fire from Armenian armed forces
All news