Technical Assistance Reports

Republic of Azerbaijan: Technical Assistance Report-Modernizing Central Bank Communication

February 12, 2025

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Format: Chicago

International Monetary Fund. Monetary and Capital Markets Department "Republic of Azerbaijan: Technical Assistance Report-Modernizing Central Bank Communication", Technical Assistance Reports 2025, 013 (2025), accessed March 15, 2025, https://doi.org/10.5089/9798229000093.019

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Summary

This report presents an analysis of the Central Bank of the Republic of Azerbaijan's (CBA) communication framework and offers recommendations for enhancement. The technical assistance mission, led by the IMF Monetary and Capital Markets Department, aimed to modernize the CBA's communication strategies to align with international best practices. The findings indicate that while the CBA has made significant progress in external communications, there are areas for improvement, particularly in formalizing communication processes and enhancing message clarity. Recommendations include strengthening the role of the Communications Division, adopting a proactive communication policy, and improving the monetary policy communication cycle. These changes are expected to elevate the CBA's communication to a policy tool that supports its objectives of price and financial stability.

Subject: Central bank policy rate, Financial sector policy and analysis, Financial sector stability, Financial services, Monetary policy, Monetary policy communication, Monetary policy frameworks, Social networks, Technology

Keywords: Azerbaijan., B. Communication cycle, C. communications management, Capacity Building, CBA flagship policy publication, CBA monetary policy press release, Central Bank, Central bank policy rate, Communication, Communication Division, Communication framework, Financial sector stability, Global, Inflation Targeting, Institutional Strategy, Monetary Policy, Monetary policy communication, Monetary policy department, Monetary policy frameworks, Policy Framework, Social networks, Stakeholders, Transparency

Publication Details

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