IMF suggests its assistance to Azerbaijan on restructuring of banking sector

IMF suggests its assistance to Azerbaijan on restructuring of banking sector
# 15 November 2013 13:34 (UTC +04:00)

Baku – APA-Economics. Chairman of the Central Bank of Azerbaijan Elman Rustamov has received the delegation led by the head of International Monetary Fund’s mission on Azerbaijan Raja Almarzogi.

According to APA-Economics, the sides have discussed the issues such as macro-economic stability, economic growth, development of non-oil sector, economic diversification, foreign position of the country, development of banking sector, CBA monetary-credit policy, capitalization of the banks at the meeting.

Rustamov gave information about current situation in the country, monetary and exchange rate policy for 2014, strengthening of financial stability, capitalization and consolidation of banking sector, measures taken for ensuring financial stability.

In turn, IMF official Almarzogi highly assessed the economic growth in Azerbaijan, measures taken for ensuring financial and macro-economic stability and drew attention to switching to quick exchange rate policy, possibility of technical assistance by IMF on the restructuring of the banking sector to the attention.

The sides also discussed cooperation links between CBA and IMF and perspectives of these links, term of Financial Sector Assessment Program (FSAP).

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THE OPERATION IS BEING PERFORMED