Azerbaijan, Baku, March 1 / Trend I. Khalilova /
The International Monetary Fund (IMF) conducts diagnostics of compiling and disseminating the data in the foreign sector statistics in the Central Bank of Azerbaijan (CBA), the CBA told Trend today.
"In this regard, the consultations were conducted with the IMF technical mission," the bank said. "The recommendations were given to the Statistics Department."
The consultations on the methodology of the balance of payments made by the Central Bank in connection with the transition to use the new Balance of Payments Manual 6-th Edition and international investment position.
The Swiss State Secretariat for Economic Affairs (Seco) also renders technical assistance to the Central Bank to improve the CBA foreign sector statistics, including the methodological base of the balance of payments and to bring it into line with the new Balance of Payments Manual 6-th Edition.
This manual contains the recommendations on trans-border transactions and positions in accordance with a set of internationally agreed guidelines. It ensures more transparency and detailed information about the extended range of international activities of IMF member countries.
It takes into account globalization (for example, currency unions, trans-border production processes, complex international bodies of the company, as well as issues related to money transfer), and rests upon the growing interest in the study of vulnerabilities based on the balance sheet.