## Republic of Azerbaijan: Technical Assistance Report-Modernizing Central Bank Communication

_Technical Assistance Reports, February 12, 2025_

## Source details

**Canonical URL:** [Republic of Azerbaijan: Technical Assistance Report-Modernizing Central Bank Communication](https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/02/12/azerbaijan-technical-assistance-report-modernizing-central-bank-communication-561816)

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## Bibliographic details
- Published: February 12, 2025
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798229000093.019

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### Executive summary and findings
- The report presents an analysis of the Central Bank of the Republic of Azerbaijan's (CBA) communication framework and offers recommendations for enhancement.
- The technical assistance mission was led by the IMF Monetary and Capital Markets Department and aimed to modernize the CBA's communication strategies to align with international best practices.
- Findings indicate that while the CBA has made significant progress in external communications, there are areas for improvement:
  - formalizing communication processes;
  - enhancing message clarity.
- The recommended changes are expected to elevate the CBA's communication to a policy tool that supports its objectives of price and financial stability.

### Key recommendations
- Strengthen the role of the Communications Division.
- Adopt a proactive communication policy.
- Improve the monetary policy communication cycle.

### Scope, subjects, and keywords
- Subject coverage: Central bank policy rate, Financial sector policy and analysis, Financial sector stability, Financial services, Monetary policy, Monetary policy communication, Monetary policy frameworks, Social networks, Technology.
- Keywords listed in the report: Azerbaijan., B. Communication cycle, C. communications management, Capacity Building, CBA flagship policy publication, CBA monetary policy press release, Central Bank, Central bank policy rate, Communication, Communication Division, communication framework, Financial sector stability, Global, Inflation Targeting, Institutional Strategy, Monetary Policy, Monetary policy communication, monetary policy department, Monetary policy frameworks, Policy Framework, Social networks, Stakeholders, Transparency.

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- **tarea2025013-print-pdf**
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_Source: https://www.imf.org/en/publications/technical-assistance-reports/issues/2025/02/12/azerbaijan-technical-assistance-report-modernizing-central-bank-communication-561816_