Financial sector repair needed to spur growth in the Caucasus and Central Asia
While the Caucasus and Central Asia (CCA) is facing a somewhat better external environment, prospects for growth remain subdued relative to historical standards, and risks remain tilted to the downside. A comprehensive set of reforms is needed to help unleash the region’s growth potential and address the legacy of past shocks. A strong financial sector…
Oil and Russia: Twin Shocks for the Caucasus and Central Asia
The Caucasus and Central Asia (CCA) will be challenged in 2015 by the double shock of lower oil prices and the economic recession in Russia. Oil prices have declined by more than 50 percent since June 2014, and markets expect that they will stay at about $57 per barrel on average in 2015, rising gradually…
