Azerbaijan mulls co-op with IMF, ADB in Bangkok

First Deputy Minister of Finance Anar Karimov has discussed Azerbaijan's cooperation with the International Monetary Fund (IMF) and the Asian Development Bank (ADB) at the annual meetings of financial institutions in Bangkok, Report informs referring to the Ministry of Finance.

Karimov held separate meetings with Jihad Azour, Director of the IMF's Middle East and Central Asia Department, and Rodrigo Valdés, Director of the Fiscal Affairs Department. They discussed the outcomes of the IMF Article IV consultations for 2026, the main directions of Azerbaijan's macroeconomic and fiscal policy, as well as medium-term structural reforms.

Karimov noted that maintaining macroeconomic stability, diversifying the economy, and developing the non-oil sector are the main priorities of the country's economic policy. He informed about measures to improve the public financial management system and increase the efficiency of budget expenditures.

Special attention was paid to the digitalization of public financial management, the improvement of budget planning and execution mechanisms, and the introduction of performance-based and programmatic budgeting. Karimov emphasized the importance of the IMF's technical assistance and expert support in these areas.

On the same day, the delegation met with Manuel Schiappa Pietra, President of the Canadian company FreeBalance. They discussed prospects for cooperation in improving the public financial management system, modernizing budget planning, and implementing digital solutions.

The delegation also met with the US Executive Director of the ADB, Ambassador Robert S. Sweeney. They discussed the current state and prospects of the partnership, joint projects, support for the private sector, and regional cooperation.

Furthermore, a meeting was held with the Vice President for Banking Operations of the Black Sea Trade and Development Bank, Ziya Aliyev. They discussed the current state and directions for developing cooperation, as well as the significance of the bank's 28th annual meeting, which was held in July in Baku.