IMF mission Completed Review on Azerbaijan’s Relevance to Article 4 of IMF Agreement

Business Materials 1 March 2007 11:51

Azerbaijan, Baku /corr. Trend I.Khalilova / An International Monetary Fund (IMF) mission has completed its review of Azerbaijan's relevance to Article 4 of the Agreement on IMF.

Vitaliy Kramarenko, the Head of IMF mission, the Deputy Director of IMF Department for Middle East Azerbaijan which began on 14 February that consultations were carried out with the Government on Article 4. These consultations are held in almost all IMF member-countries once a year.

The consultations target the estimation of the Government's short and long-term tasks on the development of national economy and the discussions of plans on structural reforms.

As a result of the visit the mission will develop a report which will be considered at the IMF Board of Executive Directors in the beginning of May 2007, Kramarenko stated.

According to Kramarenko, the Azerbaijan Government is satisfied with the co-operation carried out with IMF over the 2 years on the level of Article 4 and therefore was not a topic for discussion. Furthermore, IMF technical assistance rendered within different directions is also increasing.

"Our office is in constant contact with members of the Government and our discussions enable us to achieve a great deal within our mutual relationships," Kramarenko said.