Fitch: Azerbaijan improves governance indicators

In the latest edition of the Worldwide Governance Indicators (WGI), Azerbaijan improved its ranking by 15 percentage points compared to 2010, Arvind Ramakrishnan, director, EMEA Sovereign Ratings at Fitch Ratings, said during the webinar "Fitch on the Caucasus: Sovereign and Banking Sector Perspectives for 2026," Report informs.

He noted that the quality of public governance, which has long been one of Azerbaijan's weaknesses, improved by approximately 4 percentile points in the latest WGI.

"At first glance, this may seem like a modest result, but over the long term, since 2010, the country's score has increased by approximately 15 points to the 38th percentile, while the median score has remained broadly unchanged. Clearly, there is still a long way to go, particularly in areas such as voice and accountability, as well as the clarity of mandates for some institutions. Nevertheless, we believe the overall development trajectory is likely positive," he added.