Stricter quarantine measures have helped countries in the South Caucasus slow down the spread of COVID-19.
Report says, citing the document of Organization for Economic Cooperation and Development "COVID-19: crisis response in the Eastern Partnership countries".
The report notes that after the onset of the new type of coronavirus pandemic, the Eastern partnership countries quickly took measures to contain it.
"Given their proximity to Iran, Azerbaijan, Armenia, and Georgia have imposed restrictions on travel and public gatherings, as well as closed schools. However, the spread of CAVID-19 in the region has prompted most Eastern partnership countries to declare stricter quarantine measures, and in some cases, a state of emergency," the authors write.
The report notes that the coronavirus pandemic has hit the world economy hard. Financial markets are usually the first to respond to economic uncertainty and are a good indicator of how much investors trust the markets. Trends in government bond yields and local exchange rates indicate a drop in investor confidence in the region's economy.
" All EaP countries except Azerbaijan have experienced significant currency depreciation (the Azerbaijani manat is subject to currency controls) and growing yields on government bonds, signaling heightened concern about the stability of public finances in the EaP countries," the report warns.
Regarding Azerbaijan, the report also notes the measures taken by the government to overcome the economic consequences of the pandemic.