Azerbaijan seeks to draw $4B from WB,IMF
The government of Azerbaijan has requested $3 billion from the IMF and $1 billion from the WB within the framework of the program to support economic reforms in the country, a source in the country’s government told Trend on January 28.
“Currently, measures to support the economic reforms that the government of Azerbaijan implements and plans to carry out, are being discussed,” said the source. “These measures may be accompanied by funding to support the state budget.”
Today, it is scheduled to hold meetings in the Azerbaijani ministry of finance and the country’s Central Bank.
The main part of the delegation comprises experts of the IMF. They were also joined by the WB Program Leader for the South Caucasus Rashmi Shankar, who has been in Baku since the last week, as well as Angela Prigozhina, who leads the World Bank's financial and private sector work in the South Caucasus.
Azerbaijan joined the WB in 1992. During the cooperation period WB allocated over $3 billion to the country to implement more than 50 projects.
Azerbaijan joined the IMF in 1992. The cooperation was particularly intense in the period of 1995-2005. During these years, Azerbaijan often used the advisory and financial assistance of the IMF to support the government's economic programs.
The IMF office was opened in Baku in 1992. Despite its staff being reduced since 1999, it remains an important partner of the Azerbaijani government.
---
Follow us on Twitter @AzerNewsAz