ArmInfo. Improving relations between Armenia and Azerbaijan will facilitate greater regional cooperation and integration, as stated by Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), TASS reports.
According to Azour, the main risks for the economies of Central Asian countries are trade measures imposed by countries on each other, rising inflation, and oil market volatility following OPEC+ decisions to increase production. "We are still experiencing a moment of extreme uncertainty, and we have a list of risks that could still trigger a contraction [of the economy]. What are these risks? The first is the impact of a second round of trade measures, which could have a negative impact on the region's outlook. Another risk is the risk of rising inflation," he said during an IMF conference in Almaty attended by representatives of the National Bank of Kazakhstan, as well as experts from Kyrgyzstan and Uzbekistan.
The third level of risk, according to Azour, is high volatility in the oil market, "particularly due to the accelerated unwinding of production cuts by OPEC+ " He also noted the positive aspects for the region's markets, particularly their integration. "The improving relations between Armenia and Azerbaijan is an opportunity for closer integration and market grow through enhanced cooperation," he said.
