AZERBAIJAN TO ACCORD RISE IN OIL PRODUCT PRICES IN MAY

Baku, IAA "Trend" April 19 corr. P.Kesamanski

Azerbaijan hopes to remove the disagreement with the International Monetary Fund (IMF) on terms of rise in domestic prices of oil products in the country up to world level, which sure to unblock the financing of Azerbaijan by IMF, Trend reports in reference to Reuters, which quoted Mikayil Jabbarov, Deputy Minister of Economic Development, as saying in the lobby of annual gathering of shareholders of the European Bank for Reconstruction and Development (EBRD).

Azerbaijan expected to receive next installment of IMF credit for $18m this May.

"We will reach the final accord on the issue in two-three weeks as far as IMF estimators mission arrive," Jabbarov noted.

Farhad Aliyev, Azerbaijani Minister, said delay in arrival of the IMF mission would not affect on the terms of the next installment of the Fund credit . "We have no principle disagreement with IMF and I hope for successful completion of talks," Aliyev stressed.

Jabbarov noted that approval of the next installment of the IMF credit for Azerbaijan is of political character.

"Azerbaijan successfully cooperates with IMF and we should have common stance to continue the cooperation," he said.

IMF ahs granted Azerbaijan with $500m since the beginning of 1990s. The program, under which Azerbaijan expects to receive the next installment, is directed at fight8ing with poverty and requires $119m in financing.