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Friday, 05 November 2004
MINISTER SAYS AZERBAIJAN \'DOES NOT NEED IMF CREDITS\'
By empty (11/5/2004 issue of the CACI Analyst)
During the ongoing parliament debate on the draft budget for 2005, Finance Minister Avaz Alekperov said on 5 November that Azerbaijan values advice from the International Monetary Fund (IMF), but does not need credits from that organization. Following the visit of an IMF delegation to Azerbaijan last month, it was announced that Baku will not receive the seventh tranche, worth approximately $19 million, of a Poverty Reduction and Growth Facility loan program that is due to expire in March 2005. Due to protracted disagreements with the fund over economic liberalization, Azerbaijan has to date received only some $60 million of the total $120 million available under that program.
During the ongoing parliament debate on the draft budget for 2005, Finance Minister Avaz Alekperov said on 5 November that Azerbaijan values advice from the International Monetary Fund (IMF), but does not need credits from that organization. Following the visit of an IMF delegation to Azerbaijan last month, it was announced that Baku will not receive the seventh tranche, worth approximately $19 million, of a Poverty Reduction and Growth Facility loan program that is due to expire in March 2005. Due to protracted disagreements with the fund over economic liberalization, Azerbaijan has to date received only some $60 million of the total $120 million available under that program. (Turan)