Shahmar Movsumov, the Executive Director of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) met with the delegation of International Monetary Fund (IMF) on January 29, 2016.

First, the sides agreed that information in foreign and local media regarding emergency loans or bailouts by foreign international organizations to Azerbaijan does not reflect the reality. It was emphasized that Azerbaijan has significant international reserves and stable and sustainable macro-economic situation.

During the meeting the transformation to the new economic growth model within the framework of the economic development strategy outlined by the President of the Republic of Azerbaijan and prospective cooperation between Azerbaijan and IMF and other issues were discussed.