No loan talks with IMF, WB – Azerbaijani minister (PHOTO)
Baku, Azerbaijan, Jan. 28
Azerbaijan isn't in talks with International Monetary Fund (IMF) and World Bank (WB) for raising $4 billion in the form of loans, said Samir Sharifov, the country's finance minister, Jan. 28.
"Our condition is not so deplorable to ask anyone for a loan in a short period," he said. "On the contrary, we allocate loans to other countries."
Sharifov also said the reforms, which Azerbaijan wants to hold, are welcomed by international financial organizations.
"They have stated that they stand ready to help on the matter, as well as financially," he said. "Here the matter rests in a broad privatization program, improvement of business environment and state administration, and decreasing bureaucracy."
He added all this is being done for Azerbaijan to be able to create a new model of development that doesn't depend on oil.
"Getting a loan worth $4 billion is out of the question," he said. "It is sowing panic among foreign investors."
Currently, the IMF, WB, ADB and EBRD delegations are in Baku.