BAKU, Azerbaijan, May 4. Cooperation between
Azerbaijan and the International Monetary Fund (IMF) in the area of
monitoring state-owned enterprises is expanding, Trend reports, citing the
Ministry of Finance.
According to the information, on May 4, First Deputy Minister of
Finance of the Republic of Azerbaijan Anar Karimov met with a
delegation led by Nino Tchelishvili, Chief Economist of the Fiscal
Affairs Department of the International Monetary Fund (IMF), who is
currently visiting the country.
The meeting addressed the existing framework for monitoring and
accountability of state-owned enterprises, ongoing reforms in this
area, as well as issues related to improving institutional
mechanisms and managing fiscal risks. In particular, the sides
exchanged views on the institutional activities of the Agency for
Monitoring State-Owned Enterprises under the Ministry of Finance,
on the work done to monitor state-owned enterprises and assess
fiscal impacts, and on the application of international best
practices in the monitoring process.
Karimov stated that the reforms implemented in recent years
regarding the oversight of state-owned enterprises have made a
significant contribution to enhancing transparency and
accountability. It was noted that further refinement of the
institutional framework in this area and effective management of
fiscal risks remain priority tasks.
In turn, Nino Tchelishvili emphasized the importance of
technical cooperation in assessing the condition of state-owned
enterprises and applying stress-testing tools, as well as
strengthening institutional capacity in this area. He shared his
views on the expectations and prospects for future cooperation
within the framework of the mission.
Meanwhile, the delegation plans to hold meetings with the
Ministry of Finance and other government agencies during the visit,
which will take place from May 4 through May 15, and discuss the
operations of state-owned enterprises, management practices, and
reforms implemented.
