Wednesday, 23 May

Armenia Seeks to Improve Its Moody's Rating

Ashot Manoukyan, Armenia’s Minister of Energy Infrastructure and Natural Resources, today sat down with a delegation from Moody’s to discuss ways to boost Armenia’s credit rating.

Manoukyan presented an overall picture of the work being carried out in Armenia’s energy, mining and water resources sectors that can potentially upgrade the country’s credit rating.

In January 2017, Moody’s published an economic report of the nine rated sovereigns in the Commonwealth of Independent Countries (CIS) that gave a negative credit outlook for the region in 2017.

“Geopolitical conflicts also will continue to weigh on the CIS economies, mainly because of the impact of Western sanctions on Russia and the conflict in eastern Ukraine but also due to the flare-up of aggression between Azerbaijan and Armenia. Of the nine CIS sovereigns rated by Moody's, only Belarus and Kazakhstan are not engaged in a military conflict or border dispute with a neighbor,” Moody’s wrote in the report.

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