Baku, Azerbaijan, May 24
By Anvar Mammadov - Trend:
Moody's international ratings agency may raise Azerbaijan's sovereign ratings in case there are a number of factors, the agency’s expert Christian Fang said May 24.
He noted that the agency currently sees three factors, the achievement of which will increase the sovereign ratings.
"First of all, we need a sustainable stabilization in the direct and indirect debt burden of the Government, which is not based solely on higher oil prices. It is also necessary that the country's banking sector is more highly capitalized and liquid," said Fang.
The expert also noted that the country should not rest on its achievements and continue to diversify the economy.
"Azerbaijan needs to strengthen the progress made in the diversification of the economy. The increase in the sovereign ratings also depends on the reduction of dependence on hydrocarbons," said Fang.
Currently, the Moody's sovereign ratings for Azerbaijan is set at Ba2, with stable outlook.
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