The Central Bank of Azerbaijan called conditions for liberalization of exchange rate policy
Baku, Fineko/abc.az. The Central Bank of Azerbaijan has " voiced" position in respect of IMFs recommendations in exchange policy area.
The CBA has reported that on the whole, the banks policy and IMFs recommendations on gradual liberalization of exchange rate regime intercross.
" The CBA is going to increase currency regime flexibility which he repeatedly noted in its official statements. In particular, the statement on political-financial stability directions for 2012 says that positive influence on real exchange rate of oil revenues sets conditions for transition to more flexible exchange regime in medium term. It should be noted that according to the banks researches , liberalization of exchange regime depends on development of financial markets and diversification of economy and currency supply sources ",- the CBA said.
The bank stresses that IMF made no recommendations on introduction of exchange rate definition practice on the basis of bi-currency basket.
Earlier Head of IMF mission in Azerbaijan Nadeem Ilahi spoke for withdrawal from exchange rate definition on the basis of hard attachment to the US dollar.
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