IMF: Azerbaijan’s central bank plays key role in maintaining financial stability

The International Monetary Fund praised the role of the Central Bank of Azerbaijan in ensuring financial sector resilience and implementing sound regulatory policies, according to Anna Rose Bordon, head of the IMF mission to Azerbaijan.

In an interview with AZERTAC, Bordon said the Central Bank had taken significant steps in recent years to strengthen prudential oversight, improve corporate governance standards, and mitigate financial risks, helping maintain a stable and reliable banking system.

The IMF also welcomed government efforts to increase fiscal transparency and improve budgetary discipline. Azerbaijan ranked 23rd out of 125 countries in the 2023 Open Budget Survey.

Bordon emphasized that Azerbaijan holds sufficient financial reserves and does not require IMF lending, which reflects strong macroeconomic management and fiscal independence.

The Fund supports Azerbaijan’s digital reforms and the expansion of access to financial services, while also encouraging deeper reforms in areas such as state-owned enterprise restructuring and private sector investment.