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"Moody's": Belarus, Tajikistan and Azerbaijan being more affected from devaluation in CIS

Recession in Russia exerts pressure on  Belarus, Kazakhstan, Azerbaijan, Tajikistan, Uzbekistan and Armenia

Baku. 17 July. REPORT.AZ/ "Moody's" international rating agency stated in its latest economic report that negative factors arising from the devaluation will affect on Belarus, Tajikistan and Azerbaijan. 

Report informs referring to the rating agency's report, the process will moderate somewhat in Uzbekistan. There are strict currency controls in this country, and the weakening of national currency (som) is carried out gradually.

"Moody's" reported that the recession in Russia and a decrease in oil price in the world market will have a negative impact on the banks of 6 member states of the CIS including Belarus, Kazakhstan, Azerbaijan, Tajikistan, Uzbekistan and Armenia. The factors on continuation of local currency tensions in these countries, the reduction in exports to Russia, a fall in sending money by those countries' citizens working in Russia were shown as reasons.

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