BAKU STAND MAY EMBARRASS GIVING CREDITS FOR BAKU-TBILISI-CEYHAN OIL PIPELINE BUILDING

PanARMENIAN.Net - Absence of mutual understanding between the Azeri government and the International Monetary Fund may complicate the giving of a credit by the International Financial Corporation for the building of the Baku-Tbilisi-Ceyhan oil pipeline. As reported by "Arminfo" agency, World Bank manager on Azerbaijan Akbar Noman stated. Let us remind that at the turn of last year the IMF announced absence of accord with the Azeri government concerning the poverty reduction program and economic cooperation. The IMF demands include the preparation and passing of the law "On the Oil Fund," which will entail the legislative body approving the fund expenses. Besides, the IMF is against using the Oil Fund means for Baku-Tbilisi-Ceyhan oil pipeline trade project, as it is contrary to the rules of spending the Oil Fund means.