Azerbaijan, Baku, Sept. 19 / Trend A. Akhundov /
The International Monetary Fund (IMF) will send a delegation to Baku, led by head of the IMF mission on Azerbaijan Raja Al Marzouqi, to update the estimate of evolutionary processes and prospects for economic development in Azerbaijan, head of the IMF Baku office Aghgun Gadirli told Trend on Tuesday. Raja Al Marzouqi is also an advisor on the Middle East and Central Asia department.
"An IMF delegation will visit Azerbaijan from November 8-15," she said. "The dates of the visit have already been agreed with the Azerbaijani government."
According to her, the IMF working group plans to discuss the recent and expected changes in the economic life of Azerbaijan.
The relatively limited period of oil production in the country requires the transformation of the country's economy into an economy based one with a leading role of the private sector and characterised by continuous and comprehensive growth up to 2020, Al Marzouqi said.
"This will require making significant changes in the current economic policy to limit public spending and increase efficiency, strengthen the financial sector and improve the work sphere," he said earlier.
The last IMF mission on Azerbaijan was in Baku from February 26 to March 12, 2013. The main purpose of the visit was to conduct consultations with the Azerbaijani government on Article IV of the agreement 'Establishment of the IMF'.
Azerbaijan joined the IMF on September 18, 1992. Cooperation between the organisation and the country was particularly intense between 1995 and 2005. During these years, Azerbaijan has often used the advice and financial assistance of the IMF to support the government's economic programmes.
The IMF office was opened in Baku in 1992. Despite its staff having been reduced since 2009, it has remained an important partner of the Azerbaijani government.