IMF Staff Country Reports

Republic of Azerbaijan : 2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Azerbaijan

Author/Editor:

International Monetary Fund. Middle East and Central Asia Dept.

Publication Date:

September 18, 2019

Electronic Access:

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Summary:

Azerbaijan is recovering from a banking crisis and recession caused by a prolonged decline in oil prices since mid-2014. Monetary conditions remain tight under a de facto peg. Despite rising government spending, the fiscal position is projected to strengthen in 2019 mainly due to firmer oil prices and improvements in revenue administration. Weaknesses in bank balance sheets, structural and policy rigidities, and institutional and governance deficiencies hinder medium-term growth prospects and weaken resilience to shocks.

Series:

Country Report No. 19/301

Subject:

Central Banks External sector Financial statistics Financial systems Fiscal sector