IMF to close its Baku office at end of June

The International Monetary Fund (IMF) has decided to close its office in Azerbaijan at the end of June 2023, Report informs.

In a letter addressed to the Ministry of Finance of Azerbaijan from the Middle East and Central Asia Department at the IMF, the reason for making such a decision is that Azerbaijan has a strong economy and financial resources, and programmatic cooperation between our country and the IMF is not expected in the near future.

The letter of the Director of the IMF's Middle East and Central Asia Department, Jihad Azour, stated that the closing the office will not weaken the IMF's relations with Azerbaijan, it will organize regular missions to discuss the economic and financial policy related to Azerbaijan's development strategy and will provide technical assistance if necessary.