Decrease of Azerbaijan’s ratings won’t affect investments, WB says
Baku, Azerbaijan, Feb. 10
World Bank (WB) does not consider that the lowering of Azerbaijan's sovereign rating by international rating agencies could have a negative impact on attracting additional investment to the country, 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.
Azerbaijani manat's devaluation had a positive impact in this regard, because it allowed making Azerbaijan's economy more competitive, she added.