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Government House in winter in Baku, Azerbaijan

Government House in winter in Baku, Azerbaijan. iStockPhoto

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


Republic of Azerbaijan- Aide Memoire of Staff Visit

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. click for more

Statement at the End of an IMF Staff Visit to Azerbaijan

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. click for more

Azərbaycanda 2013-ci il üzrə IV Maddə məsləhətləşmələrini aparmış missiyanın işinin yekunlarına dair Bəyanat

Mətbuat üçün Məlumat; 12 mart, 2013-cü il click for more

BVF əməkdaşlarının Azərbaycana səfərinin 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. click for more

Республика Азербайджан- Заключительное заявление миссии по итогам консультаций

С самого начала нынешнего нефтяного бума в Азербайджане отмечаются высокие темпы экономического роста при значительном сокращении масштабов бедности. click for more

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Azerbaijan and the IMF

IMF Survey : More Efficient Public Investment a Mideast, Central Asia Priority

November 17, 2014
Improving the efficiency of public infrastructure investment across many oil exporters in the Middle East and North Africa and the Caucasus and Central Asia is now more important than ever, a new IMF study says. click for more

Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries

November 12, 2014

Making the Most of Public Investment in MENA and CCA Oil-Exporting Countries

November 12, 2014

Press Release: Statement at the End of an IMF Staff Visit to Azerbaijan

October 28, 2014

Republic of Azerbaijan: 2014 Article IV Consultation-Staff Report; Press Release

June 11, 2014
Series: Country Report No. 14/159 click for more

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Regional Economic Outlook Update: Middle East & Central Asia

image from the publication cover

Learning to Live With Cheaper Oil Amid Weaker Demand

A large and possibly persistent decline in oil prices, and slower-than-projected growth in the euro area, China, Japan, and Russia, have substantially altered the economic context for countries in the Middle East and Central Asia. The appropriate policy response will depend on whether a country is an oil exporter or importer. A common theme, however, is that these developments present both an opportunity and an impetus to reform energy subsidies and step up structural reform efforts to support jobs and growth.

Lower oil prices have weakened the external and fiscal balances of oil exporters, including members of the Gulf Cooperation Council (GCC). Large buffers and available financing should allow most oil exporters to avoid sharp cuts in government spending, limiting the impact on near-term growth and financial stability. Oil exporters should prudently treat the oil price decline as largely permanent and adjust their medium-term fiscal consolidation plans so as to prevent major erosion of their buffers and to ensure intergenerational equity.

Gains from lower oil prices provide much-needed breathing space for oil importers but will be offset by a concurrent decline in external demand, particularly from Russia, but also from the euro area and China. Russia's sharp slowdown and currency depreciation have weakened the outlook for the Caucasus and Central Asia (CCA) because of strong linkages through trade, remittances, and foreign direct investment, suggesting the need for greater exchange rate flexibility and near-term fiscal easing where financing allows, along with stepped-up reform efforts.