Moody’s: Azerbaijan's currency reserves sufficient to cover country's 30-month import

Moody’s: Azerbaijan's currency reserves sufficient to cover country's 30-month import
  • Clock-gray 13:14
  • calendar-gray 21 January 2020

The existing currency reserves of Azerbaijan are sufficient to pay for 30 months imports of the country, "APA-Economics" reports citing the new report for CIS issued by "Moody’s" international rating agency.

According to the report, most central banks of CIS countries increase the flexibility of currency rates so that this rate could reflect demand and supply existing in the market. And Azerbaijan is an exception.

Besides, it is noted in the report if the demand and prices on the commodity market are lower than the agency’s forecasts, this can exert a negative influence on such countries as Kyrgyzstan, Kazakhstan, Russia, Tajikistan and Uzbekistan along with Azerbaijan.

Note that currently, Azerbaijan’s currency reserves are about US$ 51 bln.

Mirsaid İbrahimzade

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