Azerbaijan appoints new representative to IMF Executive Board - EXCLUSIVE

The Azerbaijani government has appointed Amin Muradov as the country's new representative to the Executive Board of the International Monetary Fund (IMF).

According to a report from a government source, Muradov will act as adviser to IMF Executive Director Paul Inderbinen.

Since November last year, Inderbinen has been presiding over the “Swiss group” of the IMF countries, which includes Azerbaijan, Kazakhstan, Kyrgyzstan, Poland, Serbia, Switzerland, Tajikistan, Turkmenistan and Uzbekistan.

Before Muradov was appointed to this position, Azerbaijan's interests in the IMF were represented by Namik Nagdaliyev, who will continue to work in the Monetary Fund for six months.

Amin Muradov headed the department of macroeconomic analysis at the Ministry of Finance of Azerbaijan.

The Finance Ministry confirmed this appointment to Report, noting that usually a country representative is elected for a period of 2-3 years.

Azerbaijan joined the IMF on September 18, 1992. In 1995-2005, the IMF allocated $ 577.3 million in loans to Azerbaijan to support the economic reform program. Azerbaijan has fully repaid the loans.

Since 2005, Azerbaijan has had no need to turn to the IMF funds, therefore, since 2006, the IMF and Azerbaijan have been cooperating as part of consultations on Article IV of the Fund’s Charter and missions of technical assistance in the main areas of macroeconomic policy.