Azerbaijan, Baku, 10 Dec / Trend , corr.I.Khalilova /"According to the estimations of the International Monitory Fund (IMF), the projection of the world GDP growth will decline. The growth rate in developed countries may be negative, which indicates the worst dynamics over the last decades," Koba Gvenetadze, the head of the IMF Baku representative, said.
"However, the situation is better on developing markets", Gvenetadze said.
According to the representative of IMF, the appeared difficulties in obtaining of outside financing, as a result of reduction in prices of oil and other raw goods, and also decrease of the sum of money transfers and lower rates of trade were affected by the crisis.
A reduction in the cost of oil will be continued, Gvenetadze added.
In view of the fact that the percentage of money transfers in GDP of Azerbaijan and Kazakhstan not high, the influence of this factor on the economy of the countries will be insignificant. "If earlier basic tasks for the region was decrease of inflation rate, then now the agenda includes the protection of financial system and the support of increase", Gvenetadze said. For the protection of financial sector the fund recommends the following measures: assignment to liquidities of guaranty of periods of supervision of the financial sector, planning in the case of extraordinary situations (possible needs of re-capitalization of banks with the use of state funds), on an increase of guaranties on deposits.
According to the head of the representative, global reduction in the business activity can prove to be more prolonged and deeper, by which it is assumed at present. The forecasts of IMF for Central Asia are combined with the significant risks of their non-attainment.
IMF proposes to realize measures to support the demand of liquidity in the countries with the developing markets, development of measures to regulate financial sector, create more effective systems of early warning and more effective coordination actions
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