The Azerbaijan Ministry of Finance and the International Monetary Fund (IMF) have discussed the application of stress-test tools in assessing the health of state-owned enterprises, Report informs, citing the ministry.
According to a statement, the discussions were held during a meeting between Deputy Minister Anar Karimov and a delegation led by Nino Chelishvili, Chief Economist of the IMF's Fiscal Affairs Department, who is on a visit to Azerbaijan.
During the meeting, existing frameworks for monitoring and accountability of state-owned enterprises, reforms carried out in this area, as well as issues of improving institutional mechanisms and managing fiscal risks were discussed. Among other things, an exchange of views was held on the institutional activities of the State-Owned Enterprises Monitoring Agency under the ministry, the work done on monitoring state-owned enterprises and assessing fiscal impacts, and the application of advanced international practices in the monitoring process.
Karimov noted that the reforms carried out in recent years in the field of monitoring state-owned enterprises make a significant contribution to strengthening the level of transparency and accountability. It was noted that further improvement of the institutional framework and effective management of fiscal risks in this direction remains a priority.
Chelishvili, in turn, emphasized the importance of technical cooperation for assessing the health of state-owned enterprises and applying stress-test tools, as well as strengthening institutional capacity in this area. She shared her views on expectations within the framework of the mission and future cooperation prospects.
Within the framework of the visit covering May 4–15, the delegation is expected to hold meetings at other state agencies in addition to the Ministry of Finance, and to conduct discussions on the activities of state-owned enterprises, management practices, and ongoing reforms.