Pithy data commentary-October 31, 2023

CAUCASUS / CENTRAL ASIA - Report 31 Oct 2023 by Ivan Tchakarov

We briefly comment on the key macro and news events in the Caucasus and Central Asia:

Armenia: Central Bank cuts policy rate by 25bps to 9.25 percent
Armenia: Pace of economic activity drops meaningfully in Sep
Armenia: Yield curve becomes (almost) inverted
Armenia: PM Nikol Pashinyan sends confusing geopolitical messages in WSJ interview
Armenia: FX reserves drop to lowest since the start of the year
Azerbaijan: GDP growth lackluster at 0.8 percent YoY Jan-Sep
Azerbaijan: Fiscal position worsens slightly in Sep
Azerbaijan: Dollarization falls to record low
Azerbaijan: NPLs stabilize at low levels
Azerbaijan: Remittances stabilize at low levels in Sep
Georgia: 3Q23 GDP growth still strong at 5.4 percent YoY, but losing momentum
Georgia: Central bank keeps rates unchanged amid rising geopolitical risks
Georgia: Institutional frictions complicate central bank’s task
Georgia: Parliament fails to impeach President
Georgia: European commission to report on Georgia’s EU candidate status on Nov 8th
Uzbekistan: Central Bank keeps rates unchanged, doubles down on hawkish message
Uzbekistan: Central Bank acknowledges delays in meeting CPI target
Uzbekistan: Trade deficit increases in Sep
Tajikistan: Economy keeps firing on all cylinders
Tajikistan: Central bank keeps rate unchanged at 10.0 percent
Tajikistan: Steady as it goes (for now)

Now read on...

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