A visit of the mission of the International Monetary Fund (IMF) headed by the Deputy Director of the IMF Department for Work with Countries of Near East and Middle Asia, Vitalie Kramarenko, is commencing in Baku on February 14th.
The mission also includes the IMF Executive Director for Azerbaijan, Tomas Moser, Deputy Director of IMF Department for Near East and Middle Asia, Lorenzo Peres, Chief Economist, Maira Zeremeno and other economists, Trend reports with referring to the IMF Baku Office.
The visit aims to discuss the macro-economical results of the activities of the country in 2006, prospects of development in 2007 in the mid-term, as well as economical policy of the Government. The visit takes place in accordance with article four of the Agreement On IMF, which the Fund holds annually.
In addition, one of the key topics of the discussions will be the decision of the Tariff Council of Azerbaijan on increasing the prices of energy carriers and communal services. The mission will touch up on all questions linked with the impact of this price increase, as well getting familiarized with the measures taken by the Government to dissuade consumer price increases.
Furthermore, the mission will consider future co-operation with the Government of Azerbaijan. Indeed supporting Azerbaijan with IMF credits is not on the agenda as long as Azerbaijan possesses a strong payment balance, the Head of IMF Baku Office, Bazel Zavoyka considers.
Additionally the IMF will consider one alternative under preventive programs Stand-by. The Government refused to follow the reviews by allocating credits and presently the co-operation with the IMF is established under consultations.
The visit will conclude on February 28th.