Caucasus Business Forecast Report Q1 2013 - New Market Report Now Available
Core Views We are no longer confident that a military conflict between Azerbaijan and Armenia over the breakaway Nagorno-Karabakh region can be averted, as the number of violent clashes continues to mount at a time of intensifying diplomatic confrontation. We no longer consider the unresolved standoff to be a 'frozen conflict' and have therefore downgraded both Azerbaijan's and Armenia's 'security/external threats' profile in our short-term political risk ratings. Armenia's economy is entering a less certain environment and despite our near-term...
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