On March 21, the Executive Board of the International Monetary Fund (IMF) discussed the findings of its annual consultations with Azerbaijan, conducted under Article IV of the Fund's Charter.
Report informs, citing IMF, that Anna Bordon, the head of the IMF mission for Azerbaijan, the Middle East, and Central Asia, visited Baku from January 22 to February 5, 2025. During her visit, she held talks with representatives of the government and the Central Bank.
Under Article IV, the IMF monitors the economic, financial, and monetary policies of its member states to ensure global financial stability. During these consultations, IMF experts assess macroeconomic conditions, collect data, and engage in discussions with national authorities on key economic issues. Their findings are then reported to the Executive Board, which formulates conclusions and shares recommendations with the respective government.
Under Article IV, the IMF has a mandate to exercise surveillance over the economic, financial and exchange rate policies of its members in order to ensure the effective operation of the international monetary system. The IMF’s appraisal of such policies involves a comprehensive analysis of the general economic situation and policy strategy of each member country. IMF economists visit the member country, usually once a year, to collect and analyze data and hold discussions with government and central bank officials. Upon its return, the staff submits a report to the IMF’s Executive Board for discussion. The Board’s views are subsequently summarized and transmitted to the country authorities.
During the early 2025 visit, the IMF mission engaged with Azerbaijan's economic policymakers on:
Macroeconomic indicators
Developments in the oil and gas sector
Decarbonization initiatives
Climate adaptation measures
Financial sector assessment and recommendations
The IMF noted that Azerbaijani authorities need more time to consider the publication of the staff report and the related press release.
Azerbaijan became an IMF member on September 18, 1992. Between 1995 and 2005, the Fund provided the country with $577.3 million in loans to support economic reforms—funds that were fully repaid.
Since 2006, Azerbaijan's cooperation with the IMF has been based on Article IV consultations and technical support in macroeconomic policy, as the country has not required the Fund's financial resources.
