Central Bank and SECO sign Memo of Understanding


June 3, Fineko/abc.az. Azerbaijani Central Bank’s chairman Elman Rustamov has received Simone Haberli, Deputy Director of chargé d'affaires of the Embassy of Switzerland and Deputy Director of the State Secretariat for Economic Affairs of Switzerland (SECO) for the South Caucasus.

During the meeting the sides stressed the importance of close cooperation between the Central Bank and SECO since 2012 within the framework of the BCC I program "Bilateral Assistance & Capacity Building for Central Banks" (BCC I) was stressed. As part of the first phase of the program, SECO rendered technical assistance to the Central Bank in the areas of inflation forecasting, transmission of interest rate policy, financial stability, exchange rate policy and monetary economy, creation of comprehensive real sector monitoring system.

Then the parties covered the questions of technical assistance to be rendered within the 2nd phase (BCC II) and covering the cooperation programme between the Central Bank and SECO for 2019-22 "Bilateral Assistance & Capacity Building for Central Banks".

In conclusion, the CBA and SECO signed the Memorandum of Understanding on the implementation of the 2nd phase of program BCC II.