President Aliyev receives head of IMF mission on Azerbaijan
President of the Republic of Azerbaijan Ilham Aliyev received on May 20 head of the International Monetary Fund (IMF) mission on Azerbaijan Mohamed El Gorchi, Azertac reports.
President Ilham Aliyev hailed long-term successful cooperation between Azerbaijan and the International Monetary Fund.
Saying this cooperation covers various formats, the head of state noted that the partnership has already entered a new phase. President Aliyev highly appreciated IMF’s support and recommendations for economic progress in Azerbaijan. The head of state expressed his confidence that the activities of the mission led by Mohamed El Gorchi would strengthen the country’s relations with this organization and contribute to continuing substantial reforms.
The president noted that the dramatic fall in global oil prices naturally led to decrease in the revenues. However, measures taken in the country such as consolidation of the budget and reforms to diversify economy helped to eliminate serious risks.
The head of state said he hoped that cooperation between Azerbaijan and the IMF would successfully continue.
El Gorchi highly appreciated the measures taken by the Azerbaijani government to eliminate the complications caused by the global economic crisis. El Gorchi said that devaluation of manat and other measures protected national production in Azerbaijan, and boosted exports in non-oil sector. He described the steps taken by the Azerbaijani government as brave and successful.
El Gorchi stressed the importance of focusing on the banking sector in the current circumstances. El Gorchi noted that the IMF was ready to conduct exchange of views with related institutions in Azerbaijan, render technical assistance to the country and participate in the relevant consultations.
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