Baku hosts meeting of Central Bank Governors' Club

Business Materials 13 May 2012 02:31 (UTC +04:00)

Azerbaijan, Baku, May 12 / Trend /

The regular 27th meeting of the Central Bank Governors' Club of the Central Asia, Black Sea Region and Balkan Countries was held in Baku Saturday. It was organized by the Central Bank of Azerbaijan (CBA).

The purpose of the meeting was to discuss mutual cooperation and exchange of experience between the central banks of the Club member countries. The event discussed the issue of the Eurozone debt and its impact on the Eurasian countries that are not EU members, international financial stability and the role of countercyclical macroprudential supervision in emerging markets and the experience of member countries in these areas, CBA said in a statement.

CBA Governor Elman Rustamov made a presentation titled "Macroeconomic Policy in Azerbaijan: challenges and medium-term priorities." The presentation covered the measures taken in Azerbaijan in the fields of macroeconomic policy and macroprudential supervision and the future goals, taking into account the successes and new challenges.

The club was founded in 1998 as a mechanism for meetings of the region's central bank governors' in order to promote cooperation, coordination and exchange of experience among regional banks.

Currently, the Club has 21 members, including Azerbaijan. At the Saturday meeting the accession of the Czech National Bank to the Club was also officially confirmed.