Bank Of Baku

"Moody’s": Azerbaijan's foreign assets are buffer for country’s economy

"Moody’s": Azerbaijan
# 19 October 2015 07:32 (UTC +04:00)

The sovereign has Baa3 foreign and local-currency government bond ratings with a stable outlook.

 

The rating agency notes that the oil price drop has already delivered a significant shock to the oil-reliant Azerbaijani economy and pressured the sovereign's balance sheet. However, Azerbaijan's large stock of foreign assets -- worth roughly $42 billion as of the end of the Q2 2015 – give it time to adjust to lower oil prices, according to the report.

 

 

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