Azernews.Az

Qabil Ashirov

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The International Monetary Fund (IMF) has issued recommendations to improve strategic management at the Central Bank of Azerbaijan (CBA), according to a statement from the regulator.

The recommendations were developed following a technical assistance mission during which IMF experts visited the Central Bank of Azerbaijan.

As part of the mission, the experts reviewed the organization of the Central Bank’s strategic planning process, the identification and assessment of strategic risks, decision-making mechanisms for risk management, and existing approaches to strategy implementation and monitoring.

Based on their analysis and comparative discussions drawing on international best practices, the experts identified areas for improvement and presented relevant recommendations.

At the conclusion of the mission, an IMF delegation held a meeting attended by CBA Deputy Governors Gular Pashayeva and Ali Ahmadov, as well as directors of several departments, the statement said.

During the meeting, the delegation presented the mission’s key observations and preliminary findings.

Participants also discussed ways to strengthen institutional approaches to strategic management and risk management, improve the effectiveness of strategy implementation, enhance monitoring processes, and further develop the Central Bank’s risk management framework.