Republic of Azerbaijan : 2016 Article IV consultation ; press release ; staff report ; and informational annex.

Saved in:

Bibliographic Details
Imprint:	Washington, D.C. : International Monetary Fund, [2016] ©2016
Description:	1 online resource (83 pages) : color illustrations.
Language:	English
Series:	IMF country report ; no. 16/296 IMF country report ; no. 16/296.
Subject:	International Monetary Fund -- Azerbaijan. International Monetary Fund. Economic development -- Azerbaijan. Diversification in industry -- Azerbaijan. Fiscal policy -- Azerbaijan. Inflation (Finance) -- Azerbaijan. Banks and banking -- Azerbaijan. Economic indicators -- Azerbaijan. Banks and banking. Diversification in industry. Economic development. Economic indicators. Fiscal policy. Inflation (Finance) Azerbaijan.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12507606

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund, publisher.
ISBN:	9781475536485 1475536488
Notes:	"September 2016." "April 18, 2013"--Page 2 of pdf. Includes bibliographical references. Online resource; title from pdf title page (IMF.org website, viewed October 7, 2016).
Summary:	Azerbaijan built large buffers and invested heavily during the oil boom years, but efforts to diversify the economy have lagged. The authorities have taken steps to adjust to slumping oil prices and weaker growth in trading partner countries. In 2015, the Central Bank of Azerbaijan (CBA) undertook two devaluations and switched to a managed float. Inflation rose while the large current account surplus evaporated and the budget moved to a deficit. Financial sector soundness deteriorated. Monetary policy has been tightened to address inflation and support the currency. The non-oil primary balanced improved in 2015, but is being reversed in 2016 with a revised budget that boosts capital and current spending. The largest bank is being restructured via a bad bank-special purpose vehicle (SPV) model, some smaller banks have been closed or intervened, and a new integrated financial supervisory agency has been created.

Similar Items