The International Monetary Fund Thursday approved lending $19.7 million to Azerbaijan as the country continues to restructure its economy
Published:
26 December 2004 y., Sunday
The International Monetary Fund Thursday approved lending $19.7 million to Azerbaijan as the country continues to restructure its economy.
The money is the fourth part of a $123.4 million loan which was agreed upon by the IMF in July 2001. With the latest disbursement, Azerbaijan will have accessed $83.9 million of the total available funds. The government will have access to the remaining sum until July 2005.
In releasing the latest installment of the loan, the IMF's deputy managing director Agustin Carstens said that "the government has made further progress in structural reforms albeit with some delays."
"The recently approved long-term oil revenue management strategy is consistent with a sustainable use of oil wealth and the major macroeconomic objectives of the government, including low inflation and sustainable growth of the non-oil sector," Carstens added.
Šaltinis:
bakutoday.net
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
The Gas Coordination Group, chaired by the Commission, met this afternoon to analyze in detail all elements of the preparedness of the EU and the Energy Community for a potential supply disruption in the Winter 2009/2010.
more »
In a meeting of the European Bank Coordination Initiative Group, held in Brussels, the parent banks of the nine largest banks operating in Romania reaffirmed their commitment to maintain their exposure to the country and ensure adequate capital levels over 10 percent for their affiliates.
more »
Airline airBaltic has informed of its plans to resume some flights from Vilnius International Airport before the end of this year.
more »
The European Commission has approved under EC Treaty state aid rules the restructuring plan of Lloyds Banking Group.
more »
"Finance and climate change" was under discussion at a 10 November hearing in parliament's Industry, Research and Energy Committee.
more »
The International Monetary Fund announced today the sale of 2 metric tons of gold to the Bank of Mauritius, the nation’s central bank.
more »
The euro area economy grew by 0.4% in the third quarter. Is the crisis over?
more »
After lots were drawn, ten winners of Danske Bankas scholarships and one winner of an iPod shuffle player were established.
more »
From 16 November 2009, AB Bank SNORAS network starts providing new products – one can sign agreements of “Finasta Asset Management” II level pension accumulation funds in all subdivisions of the bank.
more »
The expected turnaround in the Baltic Rim economies is likely to gradually improve the business opportunities for Nordic companies operating in the region.
more »