AZERBAIJAN: Coface: CIS countries ranged from relatively high to very high economy default risk

8 July 2020 — Marina MAGNAVAL
Coface, an international insurance company, one of the global leaders in insurance of risks associated with trade and foreign economic activity, conducted a risk assessment in thirteen sectors of the global economy, Trend reports.

The estimates are based on financial data, published by companies in 162 countries from Western Europe, CEE, the Asia-Pacific region, Middle East and Turkey, Latin and North America. The assessment took into account such indicators as turnover, profitability, net debt ratio, cash flow, as well as paid claims for unforeseen insurance events, noted by the company's risk managers.

The company identified various degrees of default risk of economies: A1 - very low risk of default, A2 - low, A3 - manageable, A4 - acceptable, B - relatively high, C - high, D - very high, E - extreme. At that, not one of the countries was included into the first category.

Azerbaijan, which is part of the Central and Eastern Europe and CIS, according to Coface, is included into the group B. While Bulgaria, Croatia, Serbia, and some other countries were also included into this category. Among the CIS countries, Kazakhstan and Uzbekistan also received such assessment.

Russia, Turkey, Belarus, Georgia and Moldova were assigned to the category C. Whereas Ukraine, Kyrgyzstan, Tajikistan, Turkmenistan and Armenia fell into category D.

Azerbaijani Minister of Economy, Mikail JABBAROV, noted that amid the global crisis, Azerbaijani economy has shown stability, despite various challenges caused by the pandemic, Trend wrote.



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