IMF laudes reforms carried out in Azerbaijan - Department Director - UPDATED
Director of the IMF Middle East and Central Asia Department Jihad Azour said that as part of the trip they visited Icharishahar, adding that they were deeply impressed by the excellent preservation and the beauty of this historical heritage.
Praising the long-term cooperation between Azerbaijan and the IMF, the head of state underlined Azerbaijan's keenness to continue this cooperation.
President Ilham Aliyev hailed the importance of reforms in the public administration system in Azerbaijan. He also noted the significance of purposeful measures to facilitate and further improve business environment and encourage investment making. The head of state highlighted modernization of the education system, work done to increase the educated and skilled staff potential in Azerbaijan, as well as reforms in the country's banking sector.
Describing 2017 as the year of financial stability, President Ilham Aliyev pointed out that efficient measures are being taken to ensure economic growth in 2018.
Jihad Azour noted that the IMF laudes the reforms carried out in Azerbaijan under the leadership of President Ilham Aliyev. He emphasized the importance of steps taken by the government towards eliminating the impact of the global economic crisis on Azerbaijan's economy and stabilizing the macroeconomic situation due to sharp decline in oil prices.
IMF Director of the Middle East and Central Asia Department Jihad Azour hailed the importance of the strengthening of the manat and continuation of the budget consolidation process as well as structural reforms in the country's economy. Jahad Azour also noted the importance of diversifying the economy, developing the non-oil sector and preparing the country's economy for the post-oil era.
They exchanged views on prospects for cooperation between Azerbaijan and the International Monetary Fund.
Related news releases
- 16.03.2018Debts from state compulsory state social insurance written off in Azerbaijan
- 16.03.2018Pasha Capital heads brokers ranking for February
- 16.03.2018BSE turnover increases
- 16.03.2018IBA-Georgia appeals to Georgian Central Bank on closure
- 16.03.2018Azer Turk Bank starts “Baharı faizsiz keçir” campaign
- 16.03.2018New table of salaries of several budget-financed organizations’ employees approved
- 16.03.2018MP: Banking system can’t be normalized without solving troubled loans
- 16.03.2018Average exchange rate of manat for February announced
- 16.03.2018Personal incomes rise by 10% in Azerbaijan
- 16.03.2018State budget executed with surplus of AZN 140M in January-February
- 16.03.2018International experts hold seminar on measures to fight against financial crimes in Baku
- 16.03.2018AZN 1.8B invested in Azerbaijan’s fixed capital in two months of this year
- 16.03.2018Xalg Insurance gets 2.3% decline in assets
- 15.03.2018Azerbaijan sees 1.3% growth in economy
- 15.03.2018IBA quits Russian and Georgian markets
- 15.03.2018PASHA Bank Georgia becomes sponsor of Caspian Energy Forum Tbilisi - 2018
- 15.03.2018Central Bank of Azerbaijan to attract AZN 250M
- 15.03.2018Fitch affirms Azerbaijan's Southern Gas Corridor CJSC's notes at 'BB+'
- 15.03.2018CBA postpones its plan to make investment in China’s financial market
- 15.03.2018No appeal received by Central Bank to ensure liquidity this year
- 15.03.2018UK to further expand cooperation with Azerbaijan, says PM May
- 15.03.2018AtaSigorta sees 8% decline in assets
- 15.03.2018A-Group Insurance gets decline in assets
- 15.03.2018Official Exchange Rates
- 14.03.2018One more public legal entity created in Azerbaijan
- 14.03.2018IBA Supervisory Board reorganized
- 14.03.2018Partial recovery of financial intermediation of banks observed in recent months - Executive Director
- 14.03.2018Moody’s to hold annual summit in Azerbaijan in May
- 14.03.2018Adviser to minister: All taxpayers should operate transparently from January 1, 2019
- 13.03.2018FIMSA to conduct diagnostics of risks in banking sector - EXCLUSIVE
- 13.03.2018USD rate at today's auction announced
- 13.03.2018Azerbaijan to create control group on systematically important banks - EXCLUSIVE
- 13.03.2018Moody’s downgrades rating of Yapı Kredi Bankası
- 13.03.2018Moody’s downgrades rating of main shareholder of Ziraat Bank Azerbaijan
- 12.03.2018Georgia’s debt to Azerbaijan declines
- 12.03.2018Central Bank announces result of today’s auction
- 12.03.2018Gilan Holding receives “Most active employer” award
- 09.03.2018Azerbaijan’s trade surplus increases by over 11%
- 09.03.2018Over 743 mln debt written off for 75,000 taxpayers in Azerbaijan
- 09.03.2018Azerbaijani State Customs Committee ups budget transfers
- 27.04.2017PASHA Bank’s assets near AZN 3.3B
- 27.04.2017SCC seizes 18 kg of drug
- 27.04.2017SOFAZ Executive Director re-elected to Supervisory Council of VTB Bank for next term
- 26.04.2017ADIF pays over AZN 732M in compensation to eleven closed banks’ customers
- 26.04.2017SCC prevents AZN 895,000 deviation from budget
- 26.04.2017Muganbank’s loss exceeds AZN 13M