Azerbaijan, Baku / Trend corr I. Khalilova / The National Bank of Azerbaijan (NBA) and the International Monetary Fund (IMF) are holding a regional bank conference devoted to the conceptual basis of the formation of statistics on balance of payment in Baku on 21 May.
"There are a lot of transactions and operations reflected in balance of payment dealing with the banking sector. For this reason the matter is of high importance," the deputy president of the NBA, Vadim Khubanov, said.
Representatives of the Central Banks of Kyrgyzstan, Kazakhstan, Uzbekistan and Georgia are in attendance. The guests will share their experience as balance of payments is interconnected with the economics of other countries though foreign trade operations.
According to the deputy chairman, the approach and methods of reflection of the operations in statistics are very important and it would be useful to share the experience with other countries.
"Negotiations between statistics organizations and banks of commerce are of top importance for gathering of statistics on balance of payments, capital expenditures and registration of foreign debt of the private sector. Gathering such data is not easy and officials of the State Statistics Committee and the employers of commerce banks have to clear up the data to be obtained and its significance," the head of the IMF Baku office, Bazel Zavoyko, reported.
The event is being attended by bank sector experts, representatives of Cabinet of Ministers and State Statistics Committee.
The conference will end on 25 May.