BAKU, Azerbaijan, November 13. The economies of the Caucasus and Central Asia continue to benefit from structural reforms, helping the region maintain robust economic growth, Roberto Cardarelli, Assistant Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), said.
He made the remarks at the IMF media roundtable on the November 2026 Regional Economic Outlook for the Caucasus and Central Asia on Friday, November 13.
According to him, economies across the region are still benefiting from first-generation reforms, as well as from certain spillover effects of the Russia-Ukraine conflict.
These include financial inflows, trade rerouting, remittances and the arrival of highly skilled workers, particularly in Armenia and Georgia.
Cardarelli noted that these factors, together with ongoing structural reforms, are creating favorable conditions for the region's economies. He said the region's economies had demonstrated considerable resilience, maintaining robust growth.
Speaking about the global economic outlook, the IMF official said the fund's projections are based on the assumption that the conflict in the Middle East and the resulting disruptions to oil and gas supplies will be resolved next year.
Trade through the Strait of Hormuz is expected to gradually normalize during 2027, while oil and gas prices are projected to decline. Meanwhile, the IMF doesn’t anticipate a sharp tightening of global financial conditions, with interest rates expected to rise only moderately. Food prices are also projected to increase, but not significantly.
Cardarelli stressed that, if these assumptions materialize, global growth is expected to remain resilient, which would benefit the economies of the Caucasus and Central Asia.
