IMF begins Article IV consultations with Azerbaijani authorities

BAKU. Jan 22 (Interfax) - The International Monetary Fund will conduct an Article IV review of the Azerbaijani economy from January 22 to February 5, the country's Finance Ministry said.

Anna Bordon, the head of the IMF Mission for Azerbaijan, the Middle East, and Central Asia, is in Baku for the consultations.

"At a meeting with Azerbaijan's Deputy Minister of Finance, Acting Minister Azer Bayramov, the IMF mission discussed preparatory work on consultations on the Article and the areas of analysis that will be carried out in this regard by the IMF. Bayramov spoke in detail about the macroeconomic results of 2024, the execution of the state and consolidated budgets, budget plans and expectations for 2025 and the medium term," the ministry said.

Bordon said the Article IV consultations for 2025 would focus on the latest economic developments and prospects, including accelerating economic growth and reducing inflation.

"The mission's visit, which will last until February 5, 2025, envisages discussions of macroeconomic innovations and prospects, oil and gas production and decarbonization initiatives, as well as measures to adapt to climate change," the ministry said.

The IMF expects Azerbaijan's GDP to grow 2.5% and average annual inflation of 4.8% in 2025.