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
New rules for the EU's single market will make it easier to live and do business anywhere in Europe.
more »
MEPs were disappointed that the Commission's EU budget review document had not sought the radical revision that the EU needs, they told Budgets Commissioner Janusz Lewandowski in a Policy Challenges Committee debate on Thursday.
more »
On 25 October, the Commission adopted the decision to financially support the 2011 electoral process in the Central African Republic.
more »
New EU framework for crisis management in the financial sector for managing problems before they spiral out of control.
more »
The financial crisis laid bare the limits of self-regulation, demonstrating the need for strong EU economic governance, surveillance and policy co-ordination, say two non-legislative resolutions voted by Parliament on Wednesday.
more »
The European Commission has approved an application from Germany for assistance from the European Globalisation adjustment Fund (EGF).
more »
Global and EU- level taxes on financial sector would help to fund international challenges such as development or climate change and fix the fallout from the global economic crisis.
more »
The European Investment Bank and African Development Bank today agreed to provide EUR 45m to design, build and operate onshore wind farms on four islands in the Cape Verde archipelago.
more »
MEPs want future EU budgets to accommodate new policy priorities as well as negotiations on new sources of financing.
more »
The European Parliament's Budgets Committee on Monday backed EU funding for 3,731 workers in Portugal, the Netherlands, Spain and Denmark who were made redundant due to the closure of their companies.
more »