Amelie Roux, director sovereign and supranational rating analysis at Fitch Ratings, the agency identifies three main reasons for improving the forecast for the rating.
Fitch raised the outlook for Azerbaijan’s sovereign rating from “negative” to “stable” a month ago, Roux said at an annual meeting of Fitch Ratings in Baku March 1.
The main reasons for this are the gradual decline in the level of dollarization in the country, the stabilization of manat rate since April 2017 and, as a result, the growth of confidence in it, as well as the process of restructuring the International Bank of Azerbaijan, which had a positive impact on the banking sector as a whole, she noted.
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