IMF recommends Azerbaijan to reduce oil dependence

The director of the IMF's Department for Middle East and Central Asia,
Masood Ahmed, today recommended that the government of Azerbaijan
prepare for potentially adverse conditions in the global economy,
which might reduce oil prices on behalf of the International Monetary
Fund. The IMF believes it must be done by strengthening provisions for
economic policy and a weighted approach to domestic expenditure from the
"oil" money.

The IMF representative spoke about this at a meeting with Azerbaijani
President Ilham Aliyev, Prime Minister Artur Rasi-zade, Finance
Minister Samir Sharifov, vice chairman of the Central Bank of
Azerbaijan Khagani Abdullayev and Aftandil Babayev.

Both sides agreed that Azerbaijan has the potential to become a country
with a dynamic and diversified economy.