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Qabil Ashirov

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The current state of cooperation and future priorities between Azerbaijan and the International Monetary Fund (IMF) have been discussed, Azernews reports, citing the Finance Ministry.

A meeting took place on February 4 between Azerbaijan’s Minister of Finance, Sahil Babayev, and an IMF delegation led by Patrick Lochewski, Executive Director for Azerbaijan’s Constituency, and Anna Bordon, the IMF’s Mission Chief for Azerbaijan, who is currently visiting the country.

During the meeting, the sides reviewed the existing level of cooperation between Azerbaijan and the IMF and explored prospects for its further development. Taking into account the institutional and structural reforms being implemented in the country, the importance of strengthening capacity-building and technical assistance mechanisms was emphasized. In this context, the discussions focused on key directions of fiscal and monetary policy, the preservation of macroeconomic and financial stability, and enhancing resilience to risks arising from global economic developments.

Minister Sahil Babayev highlighted the significance of the long-term, trust-based partnership between Azerbaijan and the IMF, noting that Article IV Consultations serve not only as a mechanism for regular dialogue but also as an important platform for macroeconomic assessment. He stressed that maintaining macroeconomic and financial stability remains one of the government’s top priorities, while fiscal policy continues to be shaped by the principles of sustainability and efficiency. Efficient use of state resources, strengthening medium-term budget planning, and increasing resilience to external shocks were identified as key pillars of the reform agenda.

IMF Mission Chief for Azerbaijan Anna Bordon noted that the fiscal and monetary policies implemented in the country play a crucial role in strengthening macroeconomic resilience and ensuring long-term development. She also underscored the importance of the IMF’s technical assistance and capacity-building instruments in supporting institutional reforms, enhancing the resilience of the financial sector, and ensuring the consistent implementation of economic policies.

Patrick Lochewski, Executive Director for Azerbaijan’s Constituency, stated that the measures taken by Azerbaijan to strengthen macroeconomic stability and deepen structural reforms are viewed positively by the IMF.

The meeting also addressed the issue of existing imbalances in the allocation of the IMF’s capacity-building and technical assistance resources for Azerbaijan. Minister Babayev noted that, given the scale of ongoing institutional and advanced reforms, a more balanced regional allocation of these resources would be appropriate. In addition, the limited representation of Azerbaijani professionals within the IMF was raised, with the sides emphasizing the importance of strengthening Azerbaijan’s кадров representation within the Fund in line with the country’s growing economic potential.

The parties exchanged views on further deepening cooperation between Azerbaijan and the IMF, continuing institutional dialogue, and other issues of mutual interest.