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Moody's: Azerbaijain to be first to cover loan losses in CIS

03 December 2020 11:11 (UTC +04:00)

According to Moody's Investors Service COVID-19 induced loan losses might erode as much as one-third of capital at banks in Russia and CIS. Across the CIS, large loan impairments will increase because of the double economic shock of the coronavirus outbreak and oil price slump, APA-Economics reports.
Years to cover losses from problems loan will be different. The agency predicts that Azerbaijan will be first to cover loan losses in CIS (6 months). This period is expected to last 7-8 months in Ukraine, about a year in Russia and Kazakhstan, a year and a half in Belarus and Armenia, and two years in Uzbekistan.