IMF MISSION EXPECTED

Agustin Carstens, the deputy distributing director of the International Monetary Fund (IMF), will arrive in Baku on 21 July. Baku Office of IMF said that he will lead a mission which is expected to arrive in Azerbaijan on 23 July. The mission also includes the head of the IMF mission on Azerbaijan, a specialist of the IMF on Middle East and Central Asia (MCD), Vitaliy Kramarenko, as well as Movsin Khan and Frits Zurbrug.

The visit, which targets familiarization with the situation, is part of a tour of the distributing director and his country assistants.

Under the meeting it is planned to hold meetings with Azerbaijani President Ilham Aliyev, Prime Minister Artur Rasizada, several ministers and the head of National Bank of Azerbaijan.

During the meeting of the Executive Board of the IMF on 24 June, which mulled the last fifth review on Azerbaijan under the Poverty Reduction and Growth Facility program (PRGF), Carstens noted that prospects of doubling the growth pace of the Azerbaijani economy from 2003. The same time he noted that that the pace of inflation was a respond to expansive police on development. "In future it is necessary to carry out reforms in the tax-financial sector, quality of corporate governance and taxation of state enterprises, development of a business climate and management,“ he noted then.

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