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IMF IS READY TO ALLOCATE USD 100 MILLION TO AZERBAIJAN

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10:53 04.07.2001
text: Caspian news agency
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The Boar of Directors of the International Monetary Fund (IMF) has made a decision on allocation to Azerbaijan of three-year loan for USD 100 million.

These sources must be used for supporting the governmental program for combating poverty and stimulation of economic growth in the republic.

The statement of the fund reads that Baku will receive the first tranch of the credit at USD 10 million after receiving the confirmation of the Board of Directors of IMF Economic program for Azeri government. The program will be confirmed at its July 5 session.

According to the Managing Director of IMF Stanley Fischer, as for today, the main task of economic policy of the Azeri government is to reach a stable growth not only in oil but in other spheres of national industry as well. At the same time he called upon the Azeri government to make more active the paces of structural reforms and to start fighting with corruption.