World Bank Country Manager for Azerbaijan Visits CAERC
The Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC), Vusal Gasimli, received Navid Naqvi, Head of the World Bank Office in Azerbaijan.
During the meeting, the parties discussed the benefits of cooperation between CAERC and the World Bank throughout 2017 in shaping the reform agenda, as well as collaboration in the areas of monitoring and evaluation. It was agreed that cooperation between CAERC and the World Bank would continue in a broader format in the future.
It was noted that in the World Bank’s “Doing Business 2017” report, Azerbaijan advanced by eight positions to rank 57th, which was assessed as a result of the successful economic reforms carried out under the leadership of President Ilham Aliyev. The meeting also highlighted that Ms. Keiko Honda, Executive Vice President and CEO of the Multilateral Investment Guarantee Agency (MIGA), a member of the World Bank Group, stated that Azerbaijan has overcome its economic difficulties and achieved stability and development.
It was further emphasized that as a result of the economic reforms implemented in Azerbaijan, foreign exchange reserves reached USD 42 billion in the short term, the non-oil sector grew by 2 percent, the manat exchange rate stabilized, and non-oil exports increased by 25 percent.
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