Azerbaijan repays almost entire debt to IMF

Business Materials 9 March 2015 12:30 (UTC +04:00)

Baku, Azerbaijan, March 9

By Azad Hasanli - Trend:

As of January 1, 2015, the balance of the debt of Azerbaijan to the International Monetary Fund (IMF) was $1.86 million, the Azerbaijani government's report as of 2014, submitted to the parliament, says.

Azerbaijan is repaying the debt owed to the IMF in accordance with the schedule, the report says.

IMF delivered Azerbaijan long-term loans worth $577.3 million to support the economic reform programs in 1995-2005.

Azerbaijan has had no need to take the IMF's funds since 2005.

IMF and Azerbaijan have been cooperating as part of the consultations and technical assistance missions in the main areas of macroeconomic policy since 2006.

Four IMF missions visited Azerbaijan and presented their recommendations to the state authorities of the country in 2014. These recommendations refer to such areas as public debt management, budget classification, the fight against money laundering and terrorist financing, the pension reforms, as well as Article IV of the agreement on IMF.

Azerbaijan has been a member of the International Monetary Fund since 1992.

Edited by CN


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