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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 Kazakhstan

Dmitry Dolgin
Dmitry Dolgin

Chief Economist, CIS

Egor Fedorov
Egor Fedorov

Senior Credit Analyst

James Wilson
James Wilson

EM Sovereign Strategist

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

CIS-4: Domestic resilience leads to softer rates outlook

Our view on Armenia, Azerbaijan, Kazakhstan, Uzbekistan amid an upgrade in commodity prices

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

Review of the Kazakhstan central bank policy rate decision

Most read

    Quick take
    FX Kazakhstan
    13 July

    KZT: Less support from state FX flows warrants attention

THINK Regions

ING Think has analysts all over the world who write about their dedicated region.

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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

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

Kazakhstan rates remain on hold as disinflation is offset by rising external risks
Quick take
Kazakhstan
6 March

Kazakhstan rates remain on hold as disinflation is offset by rising external…

CIS-4: Early implications of war in the Middle East
Armenia Azerbaijan
5 March

CIS-4: Early implications of war in the Middle East

An upbeat start to the year for the CIS-4
Armenia Azerbaijan
30 January

An upbeat start to the year for the CIS-4

The Commodities Feed: Oil increasingly nervous about potential US action in Iran
Commodities daily United States
30 January

The Commodities Feed: Oil increasingly nervous about potential US action in Iran

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

EMEA FX Talking: Hungarian love affair continues
FX Talking Czech Republic Hungary
15 June

EMEA FX Talking: Hungarian love affair continues

Kazakhstan hikes rates as inflation fears rise
Quick take
FX Kazakhstan
7 March 2025

Kazakhstan hikes rates as inflation fears rise

EMEA FX Talking: Upside down
FX Talking Czech Republic Hungary
11 April 2023

EMEA FX Talking: Upside down

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 Sovereign Credit: External vulnerability heatmaps
Report
Credit Bulgaria Croatia
15 July 2021

EM Sovereign Credit: External vulnerability heatmaps

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

EM Credit: Attacked from the core

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