Azerbaijan Local Office Site
IMF Local Office in Azerbaijan
This web page provides information on the activities of the Office, views of the IMF staff, and the relations between Azerbaijan and the IMF. Additional information can be found on Azerbaijan and IMF country page, including official IMF reports and Executive Board documents in English that deal with Azerbaijan.
News — Highlights
An International Monetary Fund (IMF) staff mission, headed by Raja Almarzoqi, visited Baku during November 8-15, 2013 to discuss recent economic developments, government policies and future prospects for the Azerbaijani economy.
A staff team of the International Monetary Fund (IMF) led by Raja Almarzoqi visited Baku during November 8-15, 2013, to assess macroeconomic developments and pave the ground for the next Article IV Consultation mission in March 2014.
Azərbaycanda 2013-ci il üzrə IV Maddə məsləhətləşmələrini aparmış missiyanın işinin yekunlarına dair Bəyanat
2012-ci il, 8-20 noyabr tarixində Beynəlxalq Valyuta Fondunun (BVF) missiyası ikin olaraq 2013-cü il fevral ayının sonuna planlaşdırılan IV Maddə üzrə növbəti Məsləhətləşmələr missiyasına hazırlıq məqsədilə, dövlətin iqtisadi siyasətini və Azərbaycan iqtisadiyyatının gələcək perspektivlərini müzakirə etmək üçün Bakıya səfər etmişdir. BVF əməkdaşları yüksək dövlət rəsmiləri və qeyri-hökümət sektorunun nümayəndələri ilə görüşmüşdür.
Azerbaijan and the IMF
November 15, 2013
Describes the preliminary findings of IMF staff at the conclusion of certain missions (official staff visits, in most cases to member countries). Missions are undertaken as part of regular (usually annual) consultations under Article IV of the IMF's Articles of Agreement, in the context of a request to use IMF resources (borrow from the IMF), as part of discussions of staff monitored programs, and as part of other staff reviews of economic developments.
June 19, 2013
Series: Country Report No. 13/164
June 19, 2013
Series: Country Report No. 13/165
Public Information Notice: IMF Executive Board Concludes 2013 Article IV Consultation with the Republic of Azerbaijan
Regional Economic Outlook: Middle East and Central Asia
The near-term economic outlook for the Middle East and North Africa region has weakened. In the oil-importing countries, many of which are Arab countries in transition, regional conflict, heightened political tensions, and delays in reforms continue to weigh on growth. In this context, the immediate policy priorities are to restore confidence and create jobs, make inroads into fiscal consolidation to restore debt sustainability and rebuild buffers, and embark on structural reforms needed to support private sector-led, job-intensive growth. Most oil-exporting countries continue to enjoy steady growth in the non-oil sector, supported in part by high levels of public spending. Although headline growth has declined because of domestic oil supply disruptions and lower global demand, a recovery in oil production is expected to lift growth next year. Increased vulnerability to a sustained decline in oil prices and intergenerational equity considerations underscore the need for countries to strengthen their fiscal buffers. Key medium-term challenges remain economic diversification and faster private-sector job-creation for nationals.
Economic activity in the Caucasus and Central Asia (CCA) is expected to continue expanding rapidly, with the CCA remaining among the fastest-growing regions in the world. Growth will be driven by a recovery in the hydrocarbon sector and firm growth in domestic demand, supported in part by stable remittance inflows. Considerable downside risks weigh on this outlook, however, stemming in particular from slower-than-expected growth in Russia, an important trading partner and source of remittance inflows. CCA economies should take advantage of the favorable near-term economic conditions to rebuild fiscal policy buffers that were eroded after the global crisis. In some cases, more exchange rate flexibility would help increase resilience to unanticipated shocks while supporting competitiveness. The positive near-term outlook is also an opportunity to strengthen policy frameworks and set in motion a process of structural transformation into dynamic emerging economies.