OREANDA-NEWS. November 26, 2013. Governor of the Central Bank Mr. Elman Rustamov received the delegation led by Mr. Raja Almarzogi, the head of the IMF mission to Azerbaijan.

Issues, including macroeconomic stability in the country, economic growth, development of the non-oil sector, diversification of the economy, the foreign position of the country, development of the banking sector, the Central Bank’s monetary-credit policy and banks’ capitalization were discussed during the meeting.

Mr. E.Rustamov gave in-depth information about the measures taken on current macroeconomic state of the country, the monetary and exchange rate policy for 2014, strengthening of financial stability, banking sector capitalization and consolidation, and maintenance of financial stability during the meeting.

Mr. Raja Almarzogi, in his turn, expressed his deep satisfaction with the IMF’s current level of cooperation with Azerbaijan and the Central Bank. Highly appreciating economic growth in our country, and the measures taken to ensure financial stability, the head of the mission also noted that the IMF may provide technical assistance on transition to the flexible exchange rate regime, and banking sector restructurization.

Long-run collaboration between the Central Bank and the IMF, development prospects of relationship, as well as the period of the Financial Sector Assesment Program were also broadly discussed at the meeting.