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Decrease of Azerbaijan’s ratings won’t affect investments, WB says

Thursday, February 11
The World Bank (WB) does not believe that the lowering of Azerbaijan’s sovereign rating by international rating agencies will have a negative impact on attracting additional investments to the country, the head of the WB Baku office Larisa Leshchenko told reporters Feb. 10.

“Of course, this could have a certain negative effect, if the government wants to issue Eurobonds, but private investors consider a variety of factors and a rating fall is only one of them,” she said.

“For example, they take into account the business climate in the country, how much they can make money, whether they can take capital out of the country, etc.,” she explained.

“The devaluation of the Azerbaijani manat had a positive impact in this regard, because it allowed Azerbaijan's economy to become more competitive,” she added. (