An IMF technical mission is expected to visit Azerbaijan from October 30 to November 2, 2006 within a project on securities markets, money markets, and internal debt, IMF`s Baku Office told Trend today. Verner Ricke, Regional Project coordinator is expected to arrive in Baku.
The main aim of the forthcoming visit is to discuss a working program in connection with the implementation of the project in the next month, as well as an issue on improving management of liquidity, to get acquainted the activity of the Coordination Council for Regulating the Securities market, as well as the development of the NBA (National Bank of Azerbaijan) market. The IMF experts will also get acquainted with the structure on managing with the internal state debt, as well as structure of the NBA market, monetary policy, and money market.
Mr. Ricke is expected to put forward a proposal on holding a seminar within the above-mentioned project in Baku in December, 2006.
РўThe IMF technical mission will hold meetings with the Finance Ministry, National Bank, State Securities Committee, IMF Azerbaijan.
The aid on development of the securities market was offered by IMF within the regional project on technical assistance on managing the state debt in Central Asia and Azerbaijan.
The financing of the project will be carried out at the expense of a grant on a technical assistance of Switzerland's State Economic Cooperation Secretary (SECO),. For its part, IMF will observe the implementation of the project. The project envisages improving the legislation in the field of securities market, and preparing the staff. The volume of the technical aid is $2 m, with the date of implementation of 3 years. The project will be carried out by the IMF Technical Management Office and aimed at Azerbaijan, Kyrgyzstan, and Tajikistan. Azerbaijan is expected to obtain 30 percent out of the total volume of the IMF technical aid.