On 21 October 2024, the President of the Turkic Investment Fund (TIF), Bagdat Amreyev, along with TIF General Director Ramil Babayev, met with Subir Lall, IMF Regional Deputy Director for the Middle East and Central Asia, in Washington, D.C. The IMF team provided an overview of the economic landscape in TIF member countries, evaluating their performances and suggesting improvements to align with international standards. IMF officials praised the creation of TIF, seeing it as a vital step toward the economic growth of the region.

Bagdat Amreyev outlined TIF’s progress in developing a robust investment strategy. He highlighted TIF’s focus on diversifying its investment portfolio, supporting small and medium-sized enterprises (SMEs), and contributing to Sustainable Development Goals (SDGs). Amreyev emphasized the importance of building trust with international investors and enhancing transparency in governance structures. He also noted that collaboration with the IMF will be crucial in addressing issues like capital shortages and liquidity risks in emerging markets.

Ramil Babayev, General Director of TIF, highlighted the importance of the IMF’s expertise in identifying risks in financial systems. He said that the IMF’s insights will help improve TIF’s risk management strategies as the organization grows. Subir Lall welcomed TIF’s participation in the IMF meetings, stating that the Turkic states, though underutilized in the global economy, represent a region full of untapped potential.