MOSCOW (Sputnik) – IMF and World Bank representatives will discuss the possible "technical assistance" on January 28 – Febraury 4 during a Baku "fact finding staff visit at the authorities’ request," an IMF spokesperson said as quoted by the newspaper on Wednesday.
According to The Financial Times, which cites people familiar with the discussion, the possible bailout package for Azerbaijan is worth about $ 4 billion.
Apart from the IMF and the World Bank, other financial institutions, including the European Bank for Reconstruction and Development and the Asian Development Bank, also plan to send delegations to Baku in the coming days, the newspaper said.
Most of Azerbaijan’s exports come from oil and gas and the recent fall in crude prices sparked a currency crisis in the country.
Market prices for benchmark Brent and WTI crude dropped to a 12-year low in mid-January, sliding below the historic level of $30 a barrel before slightly recovering after January 20.
