Moody’s, S&P Global Ratings: Escalation of Conflict Threatens Damage to Economies of Azerbaijan, Armenia
Moody’s recalls that on September 27, the tension between Armenia (rating stable Ba3) and Azerbaijan (rating stable Ba2) escalated.“Both countries deployed a wide range of military equipment, including helicopters and tanks, and mobilized their reserve forces. The conflict increases the risk of an all-out war, which will have long-term negative consequences for the credit ratings of both sovereign states,” the agency's experts say.Rising tensions...
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In a significant diplomatic move, President Kassym-Jomart Tokayev of Kazakhstan embarked on an official visit to Armenia, marking a pivotal moment in the relationship between the two nations. The meeting between President Tokayev and Armenian Prime Minister Nikol Pashinyan resulted in the signing of a joint statement aimed at fostering cooperation and easing tensions that had simmered between the two countries.
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