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IMF: Azerbaijan will be Able to Preserve its Currency Reserves

"Financial sector will stabilize and we'll witness reviving in the financial sector"

"Azerbaijan will be able to preserve its gold and currency reserves", said the mission head of the International Monetary Fund (IMF) to Azerbaijan Raja Al Marzouqi.

He noted that exchange rate policy of the government is formed basing on the dual currency basket and dollar has a special share in this basket: "We think that gold, currency reserves of the government declined before and after devaluation. However, we witness stabilization here recently. I think the government will be able to preserve its gold and currency reserves. Financial sector will stabilize and we'll witness reviving in the financial sector after measures taken by the government, as well as application of recommendations of the mission on financial sector assessment

Source: APA

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