IMF learns Azerbaijan's public debt management practice

Business Materials 9 June 2006 14:25 (UTC +04:00)

Dariosh Farsimadan, expert-consultant of International Monetary Fund, is visiting Baku on June 12 to 16 in order to review public debt management practice of Azerbaijan, Trend reports with reference to IMFs Baku office. The Fund mission is supported by IMFs regional project for technical assistance to public debt management in central Asia and Azerbaijan.

In the course of the visit, consultations will mainly be held at Foreign Economy Relations Board with Finance Ministry of Azerbaijan.

IMFs regional project is executed at technical assistance of Swiss State Secretariat for Economic Affairs (Seco), which has recently decided to support upgrading public debt management practices and developing state bonds market. Technical assistance amounts $2mln and the project is scheduled for 3 years. It will also be executed by IMFs Technical Assistance Office and purposed fro Azerbaijan, Kyrgystan and Tajikistan. Azerbaijan is suggested to receive 30% of total amount of technical aid.

As of April 1, 2006 Azerbaijans public debt amounts $1.741bn.(11% of GDP).