Azerbaijan properly tackling its challenges

Baku, Azerbaijan, Feb. 12 Trend: Azerbaijan is properly tackling its challenges, the Managing Director of the International Monetary Fund, Christine Lagarde, said, The PUNCH wrote. She said that IMF would do its best to assist Azerbaijan in the face of huge economic challenges. Lagarde said that Azerbaijan has been hard hit by about 70 percent oil price decline shock, because its economy depends heavily on oil exports, both in terms of trade, and in terms also of revenue. “Azerbaijan has certainly taken a good fiscal approach, is reassessing spending, is really trying to restore its position, and it is also using the exchange rate as a buffer,” she said. Story still developing Follow us on Twitter @TRENDNewsAgency