IMF interested in providing Azerbaijan's Financial Market Supervisory Body with technical support
Baku, Azerbaijan, April 18
By Azad Hasanli - Trend:
The International Monetary Fund (IMF) is interested in rendering technical support and implementing joint projects with Azerbaijan's Financial Market Supervisory Body, said Philip Bartholomew, head of the technical support mission in the IMF's Middle East and Central Asia department.
Bartholomew made this statement at a meeting with Rufat Aslanli, chairman of the Board of Directors of the Financial Market Supervisory Body in Baku.
Bartholomew expressed confidence that progress will be achieved in preserving the steady financial position on the market and ensuring the stability of the financial sector.
In his turn, Aslanli said that the long-term relations between Azerbaijan and the IMF have always been at a high level.
Aslanli also spoke about the actions taken to ensure financial stability and sustainability in Azerbaijan amid the geopolitical tendencies and macroeconomic risks.
Then the sides discussed the measures to preserve financial stability and, in this context, the prospects for future cooperation between the Financial Market Supervisory Body and the IMF.
The IMF office was opened in Baku in 1992.
The IMF allocated loans worth $577.3 million to Azerbaijan from 1995 to 2005 to support the economic reform program. Azerbaijan has fully repaid the loans to the fund.
Azerbaijan has seen no need for the IMF financial resources since 2005. So, the sides have been cooperating within the consultations and technical assistance on key areas of macroeconomic policy since 2006.