AZERI GOV'T CONSIDERED IMF'S CONCERNS GROUNDLESS

Baku, IAA "Trend" April 2 corr. R.Abbasov

The Azerbaijani government regarded the concerns by the International Monetary Fund (IMF) in delay of the fourth review of the Azerbaijan's performance under the Poverty Reduction and Growth Facility (PRGF), Finance Minister Avaz Alakbarov told journalists. According to Alakbarov, the deadline for the government to implement IMF recommendation is April 19. "If there is delay in implementation of some recommendations, the Executive Board could shift consideration of the Review from May 7 to May 19," Alakbarov said.

He also said IMF's recommendations were approved as the estimate of the expenses of the Ministry of Communications and Information Technologies, Azerchmeya State Company and Azerenergy JSC. There was also drafted a strategy on management over oil revenues, but was rejected as relevant discussions originally scheduled for March were not held in the government. "The government is considering two variants on mechanism for correcting prices of oil products and will be confirmed after the government adopts one of the variants," the ministers said.

IMF mission stated on its concerns about delay in implementing the recommendations on the fourth review of the Azerbaijan's performance under the Poverty Reduction and Growth Facility (PRGF), as well as the procedures for implementing the recently adopted Banking System Law, says a statement issued by a staff mission of IMF.