War can exacerbate Azerbaijan’s economic vulnerability: S&P downgrades debt outlook to negative

YEREVAN, OCTOBER 24, ARMENPRESS. S&P Global Ratings downgraded the outlook on Azerbaijan’s debt to negative, Barron’s reports.

“The military confrontation could exacerbate Azerbaijan's economic, external, and fiscal vulnerabilities at a time when the economy has been weakened by COVID-19 and the collapse in oil prices”, S&P said in a statement.

S&P said the Nagorno Karabakh conflict will weigh on the nation's economy and finances as it “may take quite some time to resolve”.