February 12, 2016 / 4:05 PM / 2 years ago

Azerbaijan has weathered oil shock with minimal losses - RIA cites president

MOSCOW, Feb 12 (Reuters) - Ilham Aliyev, the president of Azerbaijan, said in Munich on Friday his country had emerged from the collapse in global oil prices with “minimal losses”, Russia’s RIA Novosti news agency reported.

Azerbaijan’s economy and currency, the manat, have come under intense pressure from sliding oil prices. Ratings agency S&P cut the country’s credit rating to “junk” status earlier this year. (Reporting by Alexander Winning; Editing by Andrew Osborn)

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