...

WB, IMF start second assessment of financial sector in Azerbaijan

Business Materials 26 February 2015 19:53 (UTC +04:00)
The World Bank and the International Monetary Fund will begin next week for the second evaluation of the financial sector of Azerbaijan

Baku, Azerbaijan, Feb. 26

By Azad Hasanli - Trend:

The World Bank and the International Monetary Fund will begin next week for the second evaluation of the financial sector of Azerbaijan, Baku office of WB told Trend Feb.26.

The mission will be in Baku on March 3-18, and it will be headed by a regional coordinator for financial programs of the World Bank, Marius Vismantas.

The main purpose of the visit is to assess the level of development and stability of the financial sector of Azerbaijan.

During their stay in Baku, the members of the mission will meet with representatives of the public and private sectors related to the financial sector of the country.

The first assessment was carried out in 2003. Following this assessment, laws "On Banks", "On the National Bank", the set of regulations were adopted. The second evaluation will cover all financial transactions in the country.

Azerbaijan has been a member of the World Bank since 1992. The amount of loan agreements signed between Azerbaijan and the World Bank exceeds $4 billion.

The IMF Office opened in Baku in 1992, and despite the fact that its staff has been reduced since 2009 the IMF remains an important partner of the government of Azerbaijan.

Edited by CN

Follow the author on Twitter: @AzadHasanli

Tags:
Latest

Latest