Baku. Musa Ahmadov - APA-Economics. Azerbaijan is not expected to face next devaluation, said the mission head of the International Monetary Fund (IMF) to Azerbaijan Raja Al Marzouqi.
According to him, there is not anxiety about next wave of the devaluatin in Azerbaijan: “Because the currency and gold reserves of the state have stabilized. I think Azerbaijan will not face next devaluation. However, Azerbaijan’s economy depends on oil. In this case, it would be difficult to switch to open exchange rate policy and recenues from oil exports would be reduced. Therefore, we recommended the government to switch to the quick exchange rate policy gradually for increase of the receipts from non-oil sector export”.
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