UNEC (Azerbaijan State University of Economics) Rector, Professor Adalat Muradov attended the Annual Meeting of the two prestigious organizations with the invitation of the International Monetary Bank (IMF) and the WB. The representatives of the academic institutions from Serbia, Bosnia and Herzegovina, El- Salvador, Jordan, Angola, Cote d’Ivoire, Myanmar, Indonesia, Columbia and Azerbaijan joined a series of debates held in accordance with the special program attended by the Executive Director of the IMF Christine Lagarde and the Director of the WB Group Jim Yong Kim.
On October 7, opening the annual meeting of the IMF and the WB Secretary General of the World Trade Organization R.Azevedo said that along with the decline in global economic growth, trade barriers increased and protectionism intensified. In addition, economic growth in developed countries is divided into non-equal. He said the Trade Facilitation Agreement expected to be signed before the end of the year will reduce trade costs by 15 percent of a number of developing countries.
The Executive Director of the IMF Christine Lagarde cited a quotation by one of the creators of the IMF John Maynard Keynes “In many cases, the challenge is to reject old ideas rather than the development of new ideas” and noted to the fore “changing IMF and the changing world” as key points and development of the digital age, the policy and international cooperation ensuring the inclusive economic growth speaking about the importance of technology.
World Bank President J.Kim stressed that the main objective of the WB is absolute alleviating of poverty in the world; to ensure inclusive, sustainable and higher growth rates the importance of continuing cooperation. In addition, he noted the significance of implementation of infrastructure projects.
Participating in the discussions Rector met with the Head of IMF Mission on Azerbaijan Muhammad Al Gorchi and exchange views with him. Detailed information about the economic reforms implemented under the leadership of Azerbaijani President Ilham Aliyev was delivered and the proposal on the establishment free access to the electronic library of the IMF, organization of joint researches, conferences, seminars and round tables were made. The reform measures implemented by the President of the Republic of Azerbaijan Ilham Aliyev were highly appreciated by M. Gorchi.