Baku. Vahab Rzayev – APA-Economics. Chairman of Central Bank of Azerbaijan Elman Rustamov has received delegation of consultations mission under Article IV of the IMF's Articles of Agreement led by Raja Almarzogi.
Rustamov gave information about macroeconomic stability, economic growth, development of non-oil sector, economic diversification, foreign position of the country, CB monetary policy, development of banking sector, bank capitalization.
According to him, monetary policy between economic growth and price stability will be effectively balanced. He also spoke about synchronization of monetary policy and macroprudential policy, formation of counter-cyclical bank control frame, regulation of temperature of financial sector, providence of optimal balance between growth targets of the assets in the banks and sustainability targets.
In turn, Almarzogi highly assessed economic growth, macroeconomic and financial stability in 2013. He exchanged his views about joint efforts of IMF and Azerbaijan on short and mid-term challenges laying ahead the country.
Moreover, the sides also discussed cooperation relations and perspectives of these relations in the future.
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