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IMF recommends Azerbaijan to have flexible exchange rate regime

IMF recommends Azerbaijan to have flexible exchange rate regime

08 October 2009 16:50 (UTC +04:00)

Baku. Nijat Mustafayev - APA-ECONOMICS. The International Monetary Fund (IMF) has recommended the Central Bank of Azerbaijan to change its exchange rate policy.

The IMFâ€™s outgoing resident representative in the country Koba Gvenetadze said that they recommended switching to the flexible exchange rate regime.

"In the face of the global crisis, several countries changed their exchange rate policies. Azerbaijanâ€™s changing exchange rate police will help prevent external shocks,â€ he added.

According to him, the IMF will also give Azerbaijan recommendations on effective management of oil and gas revenues.

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