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CIS-4 resilience to face tests in the second half of 2026
Armenia Azerbaijan
9 July

CIS-4 resilience to face tests in the second half of 2026

Our latest take on Armenia, Azerbaijan, Kazakhstan, Uzbekistan as tensions in the Middle East subside

Read this Article

THINK team Commonwealth of Independent States

Dmitry Dolgin
Dmitry Dolgin

Chief Economist, CIS

Egor Fedorov
Egor Fedorov

Senior Credit Analyst

James Wilson
James Wilson

EM Sovereign Strategist

Uzbekistan policy rate on hold, but cuts starting to look possible soon
Quick take
Uzbekistan
17 June

Uzbekistan policy rate on hold, but cuts starting to look possible soon

Review of the Uzbekistan central bank policy rate decision

ING Monthly: Already playing into extra time
Report
11 June

ING Monthly: Already playing into extra time

The full report of our June Monthly update

Most read

    Quick take
    FX Kazakhstan
    13 July

    KZT: Less support from state FX flows warrants attention

THINK Regions

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CIS-4: Domestic resilience leads to softer rates outlook
Armenia Azerbaijan
11 June

CIS-4: Domestic resilience leads to softer rates outlook

Kazakhstan makes a surprise rate cut, with next move to depend on the tenge
Quick take
Kazakhstan
5 June

Kazakhstan makes a surprise rate cut, with next move to depend on the tenge

CIS‑4 FX buoyed by inflows while CPI risks hit the rates outlook
Armenia Azerbaijan
15 May

CIS‑4 FX buoyed by inflows while CPI risks hit the rates outlook

THINK Ahead: The big June gamble
United States
1 May

THINK Ahead: The big June gamble

Uzbekistan policy rate on hold, with cuts possible but distant
Quick take
Uzbekistan
29 April

Uzbekistan policy rate on hold, with cuts possible but distant

Kazakhstan holds rates, indicates room for cuts
Kazakhstan
24 April

Kazakhstan holds rates, indicates room for cuts

CIS-4: new global scenarios further reshape the outlook
Armenia Azerbaijan
16 April

CIS-4: new global scenarios further reshape the outlook

CIS macro and credit: Commodity buffers cushion Middle East risks
Report
Armenia Azerbaijan
31 March

CIS macro and credit: Commodity buffers cushion Middle East risks

FX

More FX
KZT: Less support from state FX flows warrants attention
Quick take
FX Kazakhstan
13 July

KZT: Less support from state FX flows warrants attention

FX Talking: Dollar downturn delayed
Bundle
FX
15 June

FX Talking: Dollar downturn delayed

  • This bundle contains 6 Articles
EMEA FX Talking: Hungarian love affair continues
FX Talking Czech Republic Hungary
15 June

EMEA FX Talking: Hungarian love affair continues

FX Talking: Dollar downturn delayed
Report
FX Talking
15 June

FX Talking: Dollar downturn delayed

Credit

More Credit
CIS macro and credit: A strong regional play
Report
Credit Armenia Azerbaijan
6 October 2025

CIS macro and credit: A strong regional play

CIS macro and credit: Fiscal side back in the spotlight
Report
Credit Armenia Azerbaijan
1 October 2024

CIS macro and credit: Fiscal side back in the spotlight

EM Credit: Attacked from the core
Credit Bulgaria Croatia
16 March 2021

EM Credit: Attacked from the core

CIS Sovereigns: Bracing for a new wave of challenges
Report
Credit Russia Ukraine
9 October 2020

CIS Sovereigns: Bracing for a new wave of challenges

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