Azerbaijan's Central Bank participates in IMF-backed event in Zurich

Ali Ahmadov, Deputy Governor of the Central Bank of Azerbaijan (CBA), and Azer Alasgarov, Director of the Monetary Policy Department, participated in an event organized by the International Monetary Fund's Regional Capacity Development Center for the Caucasus, Central Asia, and Mongolia (CCAMTAC), Report informs, citing the CBA.

The event, held in Zurich, Switzerland on November 10-12, focused on the topic of "Central Bank Governance and Policy Frameworks in a Changing World." The event, organized with the support of the Swiss National Bank and the German Federal Bank (Deutsche Bundesbank), attracted central bank executives from various countries.

Ali Ahmadov was one of the speakers delivering the opening speech at the event. He discussed the Central Bank's recent efforts to enhance the monetary policy framework and their role in promoting macroeconomic stability and the growth of local financial markets. Ahmadov stated that the Central Bank is committed to expanding its analytical capabilities to improve the transmission of policy decisions to the real sector. He added that initiatives to modernize money market operations and deepen financial markets will continue.

Azer Alasgarov, Director of the Central Bank's Monetary Policy Department, held a presentation titled "Azerbaijan's Monetary Policy Communication." He spoke on the Central Bank's methods and channels for communicating with target groups, as well as its approach to evaluating the results of communication activities. Alasgarov also highlighted the Central Bank's recent initiatives to expand information openness.

The event provided a valuable regional platform for sharing best practices in central banking governance, monetary policy decision-making and execution, and capacity building, communication, and transparency issues.