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Azerbaijan - Capital Markets Modernization Project (Английский)

Ratings of Capital Markets Modernization Project for Azerbaijan were as follows: outcomes were satisfactory, risk to development outcome was substantial, Bank performance was moderately satisfactory, and Borrower performance was satisfactory. Some of the lessons learned included: (i) When a country’s economy is reliant on a particular commodity or sector, it is critical to assess the risks associated with both short and long-term price fluctuations;...
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