Abstract
2019 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Azerbaijan
Relations with the Fund
(As of July 10, 2019)
Membership Status
Date of membership: September 18, 1992
General Resources Account
| SDR Million | Percent Quota | |
|---|---|---|
| Quota | 391.70 | 100.00 |
| Fund Holdings of Currency | 333.90 | 85.24 |
| Reserve position in Fund | 57.83 | 14.76 |
| SDR Million | Percent Quota | |
|---|---|---|
| Quota | 391.70 | 100.00 |
| Fund Holdings of Currency | 333.90 | 85.24 |
| Reserve position in Fund | 57.83 | 14.76 |
SDR Department
| SDR Million | Percent Allocation | |
|---|---|---|
| Net Cumulative Allocation | 153.58 | 100.00 |
| Holdings | 95.73 | 62.33 |
| SDR Million | Percent Allocation | |
|---|---|---|
| Net Cumulative Allocation | 153.58 | 100.00 |
| Holdings | 95.73 | 62.33 |
Outstanding Purchases and Loans
| SDR Million | Percent of Quota | |
|---|---|---|
| None | 0.00 | 0.00 |
| SDR Million | Percent of Quota | |
|---|---|---|
| None | 0.00 | 0.00 |
Latest Financial Arrangements
| Type | Approval Date | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| PRGF | Jul. 06, 2001 | Jul. 04, 2005 | 67.58 | 54.71 |
| PRGF | Dec. 20, 1996 | Mar.19, 2000 | 93.60 | 81.90 |
| EFF | Dec. 20, 1996 | Mar.19, 2000 | 58.50 | 53.24 |
| Type | Approval Date | Expiration Date | Amount Approved (SDR Million) | Amount Drawn (SDR Million) |
|---|---|---|---|---|
| PRGF | Jul. 06, 2001 | Jul. 04, 2005 | 67.58 | 54.71 |
| PRGF | Dec. 20, 1996 | Mar.19, 2000 | 93.60 | 81.90 |
| EFF | Dec. 20, 1996 | Mar.19, 2000 | 58.50 | 53.24 |
Projected Payments to the Fund
(SDR million; based on existing use of resources and present holdings of SDRs)
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Principal | |||||
| Charges/Interest | 0.30 | 0.58 | 0.58 | 0.58 | 0.58 |
| Total | 0.30 | 0.58 | 0.58 | 0.58 | 0.58 |
| Forthcoming | |||||
|---|---|---|---|---|---|
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Principal | |||||
| Charges/Interest | 0.30 | 0.58 | 0.58 | 0.58 | 0.58 |
| Total | 0.30 | 0.58 | 0.58 | 0.58 | 0.58 |
Safeguards Assessment
Under the Fund’s safeguards assessment policy, the Central Bank of Azerbaijan (CBA) was subject to an assessment with respect to the PRGF arrangement that was approved on July 06, 2001, and expired on July 5, 2004. The assessment was completed on March 11, 2002, and it was concluded that the external audit and financial reporting were adequate. The assessment proposed a set of measures to strengthen internal control, data reporting to the Fund, and the legal framework. The majority of the recommendations were implemented, except for the recommendation to establish an Audit Committee. The external audit of 2011 CBA financial statements was completed by April 2012, and the audited financial statements along with the audit opinion has been published on the bank’s website as an integral part of 2011 annual report.
Exchange Rate Arrangements
The currency of Azerbaijan is the manat, which became sole legal tender on January 1, 1994. The The de jure exchange rate arrangement is classified as free floating, wile the de facto regime is a “stabilized arrangement”.
Azerbaijan accepted the obligations of Article VIII, Sections 2, 3, and 4 effective November 30, 2004, and maintains an exchange system that is free of restrictions on the making of payments and transfers for current international transactions, except for restrictions maintained for security reasons that have been notified to the Fund.1
Article IV Consultation
Azerbaijan is on a 12-month Article IV consultation cycle. The previous Article IV consultation was concluded on a lapse-of-time basis on March 14, 2018.
ROSCs
A fiscal transparency ROSC module was prepared by FAD (SM/00/278, 12/12/01) and updated in April 2003 (SM/03/159, 04/30/03). A fiscal ROSC update mission took place in April 2005. A data dissemination ROSC module was completed by STA in March 2003 (IMF Country Report No. 03/86). The authorities published the fiscal ROSC, and it is available on the IMF web site. Several financial systems ROSC were conducted in the context of the FSAP (2003–04) but were not published. A CPI data ROSC completed in July 2008 (IMF Country Report No. 08/273).
Resident Representative
In October 2009, Mr. Koba Gvenetadze ended his term as IMF Resident Representative in Azerbaijan. Since November 2009, the IMF no longer has a Resident Representative in Azerbaijan, but the IMF Office in Baku, located in the building of the Ministry of Finance of Azerbaijan, continues to operate, headed by Ms. Aghgun Gadirli (Office Manager).
Resident Advisers
An adviser on the establishment of the Treasury in the Ministry of Finance, Mr. Nurcan Aktürk, was stationed in Baku from December 1994 to September 1996. He was succeeded by Mr. B.K. Chaturvedi, whose assignment was extended twice, first through August 2000, and then through May 2001. Mr. B.K. Chaturvedi was replaced by Mr. A. Khan, whose assignment started in May 2001 and ended in August 2002. A technical long-term adviser for tax administration, Mr. Mark Zariski, was stationed in Baku from April 1995 to April 1996. He was succeeded by Mr. Peter Barrand, who was stationed in Baku from January 2001 to December 2002. Mr. Isaac Svartsman was resident advisor in the CBA for bank supervision and restructuring from September 1998 to April 2001. Ms. Nataliya Ivanik was stationed in Baku as a STA regional external sector statistics advisor from November 2006 to November 2008.
Azerbaijan: Technical Assistance, 2010–19
Azerbaijan: Technical Assistance, 2010–19
| Fund Dept. | Delivered Assistance | Mission Dates |
|---|---|---|
| LEG | AML/CFT Diagnostic | Feb/Mar 2011 |
| LEG | AML/CFT Structures and tools | Feb/Mar/Oct/Dec 2011 |
| LEG | AML/CFT Legislation | Jul/Dec 2011 |
| STA | Government Finance Statistics | Sep 2011 |
| STA | Balance of Payments Statistics | Mar 2012 |
| MCM | Moving Towards Exchange Rate Flexibility | Mar 2012 |
| LEG | AML/CFT Structures and Tools | Jun/May/Sep/Dec 2012 |
| FAD | Pension Reform | Jul 2012 |
| STA | National Accounts | Feb 2013 |
| LEG | AML/CFT Structures and Tools | Mar 2013 |
| FAD | Debt and Cash Management and Budget Classification | Jun 2013 |
| FAD | Pension Reform Follow Up | Jul/Nov 2013 |
| STA | Quarterly National Accounts Statistics | Sep 2013 |
| MCM | Follow-up Mission-Bank Restructuring (with MCD staff visit) | Mar 2014 |
| STA | Quarterly National Accounts Statistics | May 2014 |
| STA | External Sector Statistics | May 2015 |
| MCM | Bank Restructuring (with MCD staff visit) | Sep 2015 |
| STA | External Sector Statistics | Nov 2015 |
| STA | External Sector Statistics | Apr 2016 |
| MCM | Multi-Topic: Monetary, FX Operations and Bank Supervision | Apr 2016 |
| FAD | TADAT Workshops, Research and Training Consultations | Apr 2016 |
| LEG | Review of the Draft Law on Supervision of Financial Markets | May 2016 |
| LEG | Ongoing review of the Draft Law on Deposit Insurance | Jun 2016 |
| MCM | Bank Supervision | June 2016 |
| MCM | Liquidity Forecasting | Sep 2016 |
| STA | National Accounts | Oct 2016 |
| MCM | Bank Restructuring and Bank Supervision | Oct 2016 |
| MCM | Monetary Policy and Central Bank Operations | Mar 2017 |
| FAD | PFM-Fiscal Rules | Apr 2017 |
| STA | Government Finance Statistics | May 2017 |
| STA | Financial Soundness Indicators | Q1 2018 |
| MCM | Monetary Policy and Central Bank Operations (follow-up) | Q1 2018 |
| MCM | Regulatory and Prudential Framework | Q1 2018 |
| STA | Monetary and Financial Statistics | Q1 2018 |
| STA | Government Finance Statistics (follow-up) | Q1 2018 |
| STA | Balance of Payments Statistics | Q1 2018 |
| STA | Government Finance Statistics (follow-up) | Q2 2018 |
| STA | National Accounts | Q3 2018 |
| MCM | Transition to Inflation Targeting, Monetary and Foreign Exchange Operations | Q3 2018 |
| STA | Government Finance Statistics (follow-up) | Q4 2018 |
Azerbaijan: Technical Assistance, 2010–19
| Fund Dept. | Delivered Assistance | Mission Dates |
|---|---|---|
| LEG | AML/CFT Diagnostic | Feb/Mar 2011 |
| LEG | AML/CFT Structures and tools | Feb/Mar/Oct/Dec 2011 |
| LEG | AML/CFT Legislation | Jul/Dec 2011 |
| STA | Government Finance Statistics | Sep 2011 |
| STA | Balance of Payments Statistics | Mar 2012 |
| MCM | Moving Towards Exchange Rate Flexibility | Mar 2012 |
| LEG | AML/CFT Structures and Tools | Jun/May/Sep/Dec 2012 |
| FAD | Pension Reform | Jul 2012 |
| STA | National Accounts | Feb 2013 |
| LEG | AML/CFT Structures and Tools | Mar 2013 |
| FAD | Debt and Cash Management and Budget Classification | Jun 2013 |
| FAD | Pension Reform Follow Up | Jul/Nov 2013 |
| STA | Quarterly National Accounts Statistics | Sep 2013 |
| MCM | Follow-up Mission-Bank Restructuring (with MCD staff visit) | Mar 2014 |
| STA | Quarterly National Accounts Statistics | May 2014 |
| STA | External Sector Statistics | May 2015 |
| MCM | Bank Restructuring (with MCD staff visit) | Sep 2015 |
| STA | External Sector Statistics | Nov 2015 |
| STA | External Sector Statistics | Apr 2016 |
| MCM | Multi-Topic: Monetary, FX Operations and Bank Supervision | Apr 2016 |
| FAD | TADAT Workshops, Research and Training Consultations | Apr 2016 |
| LEG | Review of the Draft Law on Supervision of Financial Markets | May 2016 |
| LEG | Ongoing review of the Draft Law on Deposit Insurance | Jun 2016 |
| MCM | Bank Supervision | June 2016 |
| MCM | Liquidity Forecasting | Sep 2016 |
| STA | National Accounts | Oct 2016 |
| MCM | Bank Restructuring and Bank Supervision | Oct 2016 |
| MCM | Monetary Policy and Central Bank Operations | Mar 2017 |
| FAD | PFM-Fiscal Rules | Apr 2017 |
| STA | Government Finance Statistics | May 2017 |
| STA | Financial Soundness Indicators | Q1 2018 |
| MCM | Monetary Policy and Central Bank Operations (follow-up) | Q1 2018 |
| MCM | Regulatory and Prudential Framework | Q1 2018 |
| STA | Monetary and Financial Statistics | Q1 2018 |
| STA | Government Finance Statistics (follow-up) | Q1 2018 |
| STA | Balance of Payments Statistics | Q1 2018 |
| STA | Government Finance Statistics (follow-up) | Q2 2018 |
| STA | National Accounts | Q3 2018 |
| MCM | Transition to Inflation Targeting, Monetary and Foreign Exchange Operations | Q3 2018 |
| STA | Government Finance Statistics (follow-up) | Q4 2018 |
Statistical Issues
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision to the Fund has some shortcomings, but is broadly adequate for surveillance. | |
| National Accounts: The State Statistical Committee (SSC) currently compiles annual and quarterly GDP by production and expenditure at current and constant 2005 prices, however constant price quarterly GDP estimates by expenditure are not yet being published. The 2005 base year is outdated and there is scope to improve the input data and methodology used in producing the GDP estimates (these broadly conform to the System of National Accounts 1993). There is also a need for benchmarking and seasonal adjustment for quarterly GDP and for reexamining the classification of consumption and investment into public and private sectors. The last mission, in Sep-2018, assisted the SSC’s National Accounts and Macroeconomic Statistics Department in enhancing the expenditure-side GDP estimates, in addition to consistency between the quarterly and annual GDP estimates, and measurement of taxes and subsidies on products. Price Statistics: In 2010, the CPI was revised to update the consumption basket (561 items) and expenditure weights that reflect recent consumption patterns. Prices are collected from 54 geographic areas and disseminated at the national and regional level (nine regional indexes). CPI metadata lack sufficient detail and should be augmented. There is need to expand CPI coverage to include housing and to develop a residential property price index. Producer price indices (PPI) cover all major sectors, but there is not a total output PPI. Finally, export and import price indices (XMPI) are also compiled and released, but related metadata lack detail and should be augmented. |
|
| Fiscal Sector: The authorities report annual general government data according to the methodology of the Government Finance Statistics Manual 2001 (GFSM 2001) for inclusion in the GFS Yearbook. However, the stock positions in assets and liabilities have yet to be reported. The compilation of longer time series, including sub-annual series, to support surveillance and fiscal analysis and policy making, is also needed. While further work is required to improve the source data for the compilation of these statistics, the budgetary accounting and reporting system is adequate for a compilation and dissemination of the GFS on a quarterly basis. To address the fiscal reporting issues, Azerbaijan participateds in a three-year STA regional project to build capacity and improve GFS reporting to be used for fiscal policy making and Fund surveillance. STA assisted the authorities to move to the updated GFSM 2014 methodology, strengthen reporting of financial transactions and begin reporting balance sheet positions in assets and liabilities.Further TA in improving fiscal transparency will be provided in the framework of the new Regional Technical Assistance Centre. |
|
| Monetary statistics: Following two technical assistance missions in 2017 and 2018, Azerbaijan’s monetary and financial statistics improved substantially and are now in full compliance with the methodology of the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). The Central Bank regularly reports to STA monetary data using the standardized report forms (SRFs), with a monthly frequency for the central bank and other depository corporations (ODCs), and a quarterly frequency for other financial corporations. | |
| Financial sector surveillance: The Financial Market Supervisory Authority (FIMSA) received in 2018 technical assistance on financial soundness indicators (FSIs). Available source data would allow the compilation and dissemination of monthly core and encouraged FSIs for deposit takers broadly in compliance with the methodology of the FSI Compilation Guide. However, FIMSA is not reporting to STA the set of core and encouraged FSIs for posting on the IMF’s website. | |
| External Sector: Azerbaijan’s balance of payments (BOP) statistics are compiled and disseminated by the CBA and are broadly in accordance with the sixth edition of the Balance of Payments Manual (BPM6). The CBA has also re-initiated compilation of International Investment Position (IIP) statistics in 2015, after a hiatus of 6 years. However, important challenges remain, and require high-level officials’ support to be addressed, since the adoption of new data sources and estimation techniques may result in revised external sector statistics indicators that portray trends less favorable than the previous data vintage. This includes also the dissemination of IIP and external debt statistics. Despite the progress achieved with Swiss-funded TA, deficiencies remain in compiling BOP statistics. Significant under-coverage has been identified in balance of payments components such as trade in goods and services, investment income, and some financial account components. A number of methodological inconsistencies have also been identified in estimating assets in trade credit and advances; currency and deposits for other sectors; and reserve assets. These shortcomings affect a number of indicators used for assessing the country’s performance such as debt sustainability and reserve assets adequacy. There is need to take measures for compiling and disseminating the IIP and external debt statistics. Previous TA missions assisted in compiling the draft IIP and external debt statements but the methodological inconsistencies mentioned above in estimating some financial account components led to the accumulation of unrealistic stocks for those components in the IIP. In order to address the inconsistencies between balance of payments and the IIP, revising the estimation techniques and addressing classification issues is required. Statistics for public and publicly guaranteed external debt are reported quarterly on a due-for-payment basis with a lag of one to two months. A debt service schedule for public and publicly guaranteed external debt, separately identifying the principal and interest components, is also provided with a one quarter lag. However, systematic information on nonguaranteed external debt, including a sectoral breakdown, is lacking. Data on official reserve assets is provided within 15 days of the end of each month. Azerbaijan does not disseminate International Reserves and Foreign Currency Liquidity Template data. TA missions stressed the importance of using the definition of gross official reserve assets that follows the BPM6. |
|
| II. Data Standards and Quality | |
| In April 2007 a mission assessed progress towards the Special Data Dissemination Standards (SDDS) and provided technical assistance on the outstanding issues required for SDDS subscription. | A data ROSC was published on the IMF’s website in 2002. |
| I. Assessment of Data Adequacy for Surveillance | |
| General: Data provision to the Fund has some shortcomings, but is broadly adequate for surveillance. | |
| National Accounts: The State Statistical Committee (SSC) currently compiles annual and quarterly GDP by production and expenditure at current and constant 2005 prices, however constant price quarterly GDP estimates by expenditure are not yet being published. The 2005 base year is outdated and there is scope to improve the input data and methodology used in producing the GDP estimates (these broadly conform to the System of National Accounts 1993). There is also a need for benchmarking and seasonal adjustment for quarterly GDP and for reexamining the classification of consumption and investment into public and private sectors. The last mission, in Sep-2018, assisted the SSC’s National Accounts and Macroeconomic Statistics Department in enhancing the expenditure-side GDP estimates, in addition to consistency between the quarterly and annual GDP estimates, and measurement of taxes and subsidies on products. Price Statistics: In 2010, the CPI was revised to update the consumption basket (561 items) and expenditure weights that reflect recent consumption patterns. Prices are collected from 54 geographic areas and disseminated at the national and regional level (nine regional indexes). CPI metadata lack sufficient detail and should be augmented. There is need to expand CPI coverage to include housing and to develop a residential property price index. Producer price indices (PPI) cover all major sectors, but there is not a total output PPI. Finally, export and import price indices (XMPI) are also compiled and released, but related metadata lack detail and should be augmented. |
|
| Fiscal Sector: The authorities report annual general government data according to the methodology of the Government Finance Statistics Manual 2001 (GFSM 2001) for inclusion in the GFS Yearbook. However, the stock positions in assets and liabilities have yet to be reported. The compilation of longer time series, including sub-annual series, to support surveillance and fiscal analysis and policy making, is also needed. While further work is required to improve the source data for the compilation of these statistics, the budgetary accounting and reporting system is adequate for a compilation and dissemination of the GFS on a quarterly basis. To address the fiscal reporting issues, Azerbaijan participateds in a three-year STA regional project to build capacity and improve GFS reporting to be used for fiscal policy making and Fund surveillance. STA assisted the authorities to move to the updated GFSM 2014 methodology, strengthen reporting of financial transactions and begin reporting balance sheet positions in assets and liabilities.Further TA in improving fiscal transparency will be provided in the framework of the new Regional Technical Assistance Centre. |
|
| Monetary statistics: Following two technical assistance missions in 2017 and 2018, Azerbaijan’s monetary and financial statistics improved substantially and are now in full compliance with the methodology of the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). The Central Bank regularly reports to STA monetary data using the standardized report forms (SRFs), with a monthly frequency for the central bank and other depository corporations (ODCs), and a quarterly frequency for other financial corporations. | |
| Financial sector surveillance: The Financial Market Supervisory Authority (FIMSA) received in 2018 technical assistance on financial soundness indicators (FSIs). Available source data would allow the compilation and dissemination of monthly core and encouraged FSIs for deposit takers broadly in compliance with the methodology of the FSI Compilation Guide. However, FIMSA is not reporting to STA the set of core and encouraged FSIs for posting on the IMF’s website. | |
| External Sector: Azerbaijan’s balance of payments (BOP) statistics are compiled and disseminated by the CBA and are broadly in accordance with the sixth edition of the Balance of Payments Manual (BPM6). The CBA has also re-initiated compilation of International Investment Position (IIP) statistics in 2015, after a hiatus of 6 years. However, important challenges remain, and require high-level officials’ support to be addressed, since the adoption of new data sources and estimation techniques may result in revised external sector statistics indicators that portray trends less favorable than the previous data vintage. This includes also the dissemination of IIP and external debt statistics. Despite the progress achieved with Swiss-funded TA, deficiencies remain in compiling BOP statistics. Significant under-coverage has been identified in balance of payments components such as trade in goods and services, investment income, and some financial account components. A number of methodological inconsistencies have also been identified in estimating assets in trade credit and advances; currency and deposits for other sectors; and reserve assets. These shortcomings affect a number of indicators used for assessing the country’s performance such as debt sustainability and reserve assets adequacy. There is need to take measures for compiling and disseminating the IIP and external debt statistics. Previous TA missions assisted in compiling the draft IIP and external debt statements but the methodological inconsistencies mentioned above in estimating some financial account components led to the accumulation of unrealistic stocks for those components in the IIP. In order to address the inconsistencies between balance of payments and the IIP, revising the estimation techniques and addressing classification issues is required. Statistics for public and publicly guaranteed external debt are reported quarterly on a due-for-payment basis with a lag of one to two months. A debt service schedule for public and publicly guaranteed external debt, separately identifying the principal and interest components, is also provided with a one quarter lag. However, systematic information on nonguaranteed external debt, including a sectoral breakdown, is lacking. Data on official reserve assets is provided within 15 days of the end of each month. Azerbaijan does not disseminate International Reserves and Foreign Currency Liquidity Template data. TA missions stressed the importance of using the definition of gross official reserve assets that follows the BPM6. |
|
| II. Data Standards and Quality | |
| In April 2007 a mission assessed progress towards the Special Data Dissemination Standards (SDDS) and provided technical assistance on the outstanding issues required for SDDS subscription. | A data ROSC was published on the IMF’s website in 2002. |
Azerbaijan: Table of Common Indicators Required for Surveillance
(As of May, 2019)
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extrabudgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Reflects the assessment provided in the data ROSC published on March 20, 2003 and based on the findings of the mission that took place during April 8– 23, 2002 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning (respectively) concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).
Same as footnote 7, except referring to international standards concerning (respectively) source data, statistical techniques, assessment and validation of source data, assessment and validation of intermediate data and statistical outputs, and revision studies.
Azerbaijan: Table of Common Indicators Required for Surveillance
(As of May, 2019)
| Date of latest observation | Date received | Frequency of data6 | Frequency of reporting6 | Frequency of publication6 | Memo Items: | ||
|---|---|---|---|---|---|---|---|
| Data Quality – Methodological soundness7 | Data Quality Accuracy and reliability8 | ||||||
| Exchange Rates | 05/2019 | 05/31/2019 | D | D | M | ||
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | 05/2019 | 05/31/2019 | M | M | M | ||
| Reserve/Base Money | 05/2019 | 05/31/2019 | M | M | M | ||
| Broad Money | 05/2019 | 05/31/2019 | M | M | M | O, O, O, O | O, O, O, O, LO |
| Central Bank Balance Sheet | 05/2019 | 05/31/2019 | M | M | M | ||
| Consolidated Balance Sheet of the Banking System | 05/2019 | 05/31/2019 | M | M | M | ||
| Interest Rates2 | 05/2019 | 05/31/2019 | M | M | M | ||
| Consumer Price Index | 05/2019 | 05/31/2019 | M | M | M | O, O, O, O | O, LO, O, O, O |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | 05/2019 | 05/31/2019 | Q | Q | Q | ||
| Revenue, Expenditure, Balance and Composition of Financing3– Central Government | 05/2019 | 05/31/2019 | M | M | M | ||
| Stocks of Central Government and Central Government-Guaranteed Debt5 | 05/2019 | 05/31/2019 | A | A | A | ||
| External Current Account Balance | Q4/2018 | 05/31/2019 | Q | Q | Q | ||
| Exports and Imports of Goods and Services | Q4/2018 | 05/31/2019 | Q | Q | Q | ||
| GDP/GNP | Q4/2018 | 05/31/2019 | Q | Q | M | O, LO, O, LO | LO, LNO, O, O, O |
| Gross External Debt | Q4/2018 | 05/31/2019 | Q | Q | Q | ||
| International Investment Position | N/A | N/A | |||||
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extrabudgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Reflects the assessment provided in the data ROSC published on March 20, 2003 and based on the findings of the mission that took place during April 8– 23, 2002 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning (respectively) concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).
Same as footnote 7, except referring to international standards concerning (respectively) source data, statistical techniques, assessment and validation of source data, assessment and validation of intermediate data and statistical outputs, and revision studies.
Azerbaijan: Table of Common Indicators Required for Surveillance
(As of May, 2019)
| Date of latest observation | Date received | Frequency of data6 | Frequency of reporting6 | Frequency of publication6 | Memo Items: | ||
|---|---|---|---|---|---|---|---|
| Data Quality – Methodological soundness7 | Data Quality Accuracy and reliability8 | ||||||
| Exchange Rates | 05/2019 | 05/31/2019 | D | D | M | ||
| International Reserve Assets and Reserve Liabilities of the Monetary Authorities1 | 05/2019 | 05/31/2019 | M | M | M | ||
| Reserve/Base Money | 05/2019 | 05/31/2019 | M | M | M | ||
| Broad Money | 05/2019 | 05/31/2019 | M | M | M | O, O, O, O | O, O, O, O, LO |
| Central Bank Balance Sheet | 05/2019 | 05/31/2019 | M | M | M | ||
| Consolidated Balance Sheet of the Banking System | 05/2019 | 05/31/2019 | M | M | M | ||
| Interest Rates2 | 05/2019 | 05/31/2019 | M | M | M | ||
| Consumer Price Index | 05/2019 | 05/31/2019 | M | M | M | O, O, O, O | O, LO, O, O, O |
| Revenue, Expenditure, Balance and Composition of Financing3 – General Government4 | 05/2019 | 05/31/2019 | Q | Q | Q | ||
| Revenue, Expenditure, Balance and Composition of Financing3– Central Government | 05/2019 | 05/31/2019 | M | M | M | ||
| Stocks of Central Government and Central Government-Guaranteed Debt5 | 05/2019 | 05/31/2019 | A | A | A | ||
| External Current Account Balance | Q4/2018 | 05/31/2019 | Q | Q | Q | ||
| Exports and Imports of Goods and Services | Q4/2018 | 05/31/2019 | Q | Q | Q | ||
| GDP/GNP | Q4/2018 | 05/31/2019 | Q | Q | M | O, LO, O, LO | LO, LNO, O, O, O |
| Gross External Debt | Q4/2018 | 05/31/2019 | Q | Q | Q | ||
| International Investment Position | N/A | N/A | |||||
Includes reserve assets pledged or otherwise encumbered as well as net derivative positions.
Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.
Foreign, domestic bank, and domestic nonbank financing.
The general government consists of the central government (budgetary funds, extrabudgetary funds, and social security funds) and state and local governments.
Including currency and maturity composition.
Daily (D); Weekly (W); Monthly (M); Quarterly (Q); Annually (A); Irregular (I); Not Available (NA).
Reflects the assessment provided in the data ROSC published on March 20, 2003 and based on the findings of the mission that took place during April 8– 23, 2002 for the dataset corresponding to the variable in each row. The assessment indicates whether international standards concerning (respectively) concepts and definitions, scope, classification/sectorization, and basis for recording are fully observed (O), largely observed (LO), largely not observed (LNO), or not observed (NO).
Same as footnote 7, except referring to international standards concerning (respectively) source data, statistical techniques, assessment and validation of source data, assessment and validation of intermediate data and statistical outputs, and revision studies.
Staff continues to assess the jurisdictional implications of the recently adopted NPL program.