Azerbaijan, Baku, Nov. 12 / Trend I. Khalilova /
Head of the IMF's Middle East and Central Asia Department Masood Ahmed will pay a one-day visit to Azerbaijan on Nov. 15, the government told Trend on Monday.
"This is his first visit to Azerbaijan," a source said. "It will be held upon the invitation of the government of the country. During the visit Ahmed will hold the meetings at the highest level."
Masood Ahmed will join the IMF mission, led by new head of the IMF mission on Azerbaijan Raja Al Marzouqi, which has been operating in the country since last week. The purpose of the mission is to assess the evolutionary processes and prospects for economic development in Azerbaijan. In this regard, the mission of the fund is discussing the macroeconomic situation in the country with the Azerbaijani government.
IMF's October report on the World Economic Outlook forecasts the growth of Azerbaijan's GDP as of 2012.
IMF predicts Azerbaijan's GDP volume growth at the level of 3.9 percent as of 2012, or 0.4 percentage points more compared to the forecast published in the July report. According to the forecasts for 2013, GDP growth is expected to reach 2.7 percent.
According to the IMF forecasts, the inflation in the country will hit 3 percent in 2012, whereas previously the fund predicted the inflation this year at 5.6 percent. In 2013 the IMF forecasts inflation in the country at the level of six percent.
According to the fund, Azerbaijan will have a surplus balance at 20.4 percent of GDP in 2012 and 16.1 percent in 2013.
Azerbaijan joined the IMF on September 18, 1992. The cooperation between the organization and the country was particularly intense in 1995-2005. During these years, Azerbaijan has often used the advice and financial assistance of the IMF to support the economic programs of the government.
IMF office was opened in Baku in 1992. Despite its staff has been reduced since 1999, the IMF remains an important partner of the Azerbaijani government. It should be stressed that cooperation with the IMF played an important role in the global economic and financial crisis.