Azerbaijan not intends to pay off IMF loans untimely: minister
Azerbaijan, Baku, October 23 / Trend I. Khalilova /
The Azerbaijani Ministry of Finance does not consider it necessary to premature pay off the loans of the International Monetary Fund.
Finance Minister Samir Sharifov said that the Central Bank of Azerbaijan on schedule pays off IMF loans.
"The Central Bank manages these loan resources. A small amount of debt remained. We do not consider it necessary to prematurely pay them off," minister said.
Sharifov said that Azerbaijan does not intend to appeal to IMF for credit support in future.
Azerbaijan will continue to pay off IMF earlier borrowed loans till 2013.
Payments to the IMF will hit 10.29 million SDR, including 10.05 million SDR on principal debt and 0.24 million SDR on interest in 2009.
The payments will hit 9.83 million SDR (including 9.66 million SDR and 0.18 million SDR, respectively) in 2010, in 2011 - 11.06 million SDR (10,94 million SDR and 0.12 million SDR), in 2012 - 8.6 million SDR (8,53 million SDR and 0.07 million SDR), and in 2013 - 6.47 million SDR (6,44 million SDR and 0.03 million SDR).
Azerbaijan joined the IMF on Sept. 18, 1992. The quota of the republic in the fund amounts to 160.9 million SDR. The IMF allocated loans to Azerbaijan within six programs up to now. But beginning from 2005, cooperation with IMF continues at the level of consultations as the Azerbaijani government refused to receive loans of the fund.
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