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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 Uzbekistan

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

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

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

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

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

Uzbekistan holds rates steady, takes a more hawkish tone on external risks
Quick take
Uzbekistan
18 March

Uzbekistan holds rates steady, takes a more hawkish tone on external risks

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

An upbeat start to the year for the CIS-4

Kazakhstan slows, Uzbekistan may surprise: 3 calls for CIS
Armenia Azerbaijan
4 December 2025

Kazakhstan slows, Uzbekistan may surprise: 3 calls for CIS

CIS-4 remains a strong regional play
Armenia Azerbaijan
9 October 2025

CIS-4 remains a strong regional play

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