OREANDA-NEWS. July 22, 2014. Mr. Elman Rustamov, CBA Governor received Mr. Thomas Jordan, Governor of the Swiss National Bank.

Mr. Thomas Jordan, who paid a visit to Azerbaijan to attend the next meeting of the Swiss constituency in the World Bank (WB) and the International Monetary Fund (IMF), which also includes Azerbaijan, hosted by the Central Bank of the Republic of Azerbaijan (CBA) and the Ministry of Finance, expressed his gratitude to Mr. E.Rustamov for the high level of organization of the event and emphasized great socio-economic progress of our country. He also spoke about the beauty of the capital city, Baku and expressed his deep impressions of the city. Mr. Jordan emphasized the crucial importance of the discussions held within the Swiss Constituency and successful development of cooperation between Azerbaijan and Switzerland, as well as other countries represented in the Group.

Mr. E.Rustamov, looking back at 15 years of close cooperation, stressed that the Swiss National Bank had been one of the key partners for the CBA on policy issues, including institutional reforms. Mr. E.Rustamov thanked to the Swiss National Bank for the wide-range of technical assistance programs they provided to the CBA and expressed his deep confidence in further development of the relationships. Later, Mr. E.Rustamov briefed about the technical assistance already provided by the CBA itself to foreign central banks, institutional changes made in the CBA, close involvement of the Bank in the processes occurred in the country, research potential, as well as the CBA’s participation in preparing and implementing the country’s education strategy.

Mr. Jordan thanked for the in-depth information, expressed his satisfaction with the positive results that the SNB’s assistance yielded, and particularly, highly evaluated CBA’s technical assistance to other central banks.

SNB Governor also held a number of business meetings and made a presentation at the Central Bank. The topic of the presentation was ‘the monetary policy of the Swiss National Bank’, through which he shared his theoretical and practical knowledge on new monetary policy tools, designing of the monetary policy during the global crisis and in the post crisis period.

Later, Mr. Jordan visited the Center for Research and Development of the Central Bank. The governor was broadly informed of the Center’s date of establishment, scientific-research activities, future plans, recent research works and achievements during the visit. Furthermore, activities on financial literacy carried out by the Center and other visual aids were demonstrated. Overall, SNB Governor was impressed by the activities of the Center, who highly estimated the Center’s material-technical base.

Later, broad discussions were held with the Swiss National Bank on further development of joint research works and on other cooperation directions.