OREANDA-NEWS. February 21, 2011. Governor of the Central Bank Elman Rustamov received the delegation headed by the newly appointed head of the mission of the International Monetary Fund (IMF) to Azerbaijan, reported the press-centre of CBA.

During the meeting economic outcomes of 2010 and priorities for 2011 in Azerbaijan, including macroeconomic condition and current status of the banking sector, exchange rate policy strategy of the Cetral Bank were discussed.

Head of the Mission Nadim Ilahi touched upon the economic growth of Azerbaijan observed in 2010, role of the Central Bank in maintanance of the macroeconomic and financial stability, as well as the issue of diversification of the country’s economy. At the same time, there was carried out an exchange of views about the mission expected under consultative Item IV of the Articles of Agreement of the IMF.

Elman Rustamov detailed macroprudential and control measures implemented for the mid- and long-term strategy of the exchange rate policy of the Central Bank, as well as for strengthening of the financial stability.

The meeting also covered exchange of views on improvement of risk management, and consolidation in the banking sector.