11:55 - 18.03.2022

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March 18, Fineko/abc.az. Moody's released a report-type statement on the countries most affected by the Russian-Ukrainian crisis.

ABC.AZ reports that the current account indicators of many countries will deteriorate against the background of reduction in remittances from Russia, trade turnover in the CIS and rising energy prices.

The expansion of the current account deficit is expected primarily in Georgia, Moldova and Kyrgyzstan. However, the agency also emphasizes that Azerbaijan and Kazakhstan are protected from these impacts: "According to our new baseline expectations, oil prices in 2022 will average above $110, unexpected revenues from hydrocarbon exports will free Azerbaijan (Ba2, Positive) and Kazakhstan (Ba2, Stable) from this external pressure".

These risks mainly affect states through the channels of money transfers, trade, investor confidence, energy and security, as well as sanctions against financial institutions.

At that, the agency also underlines that Azerbaijan and Kazakhstan are protected from these impacts:

According to Agency's experts, Azerbaijan and Kazakhstan have the opportunity to close any deficit. Thus, the increase in energy prices contributes to this, as well as these countries managed to maintain their fiscal stability and foreign exchange reserves.