IMF`s official rep: Most countries in this region not prepared for pandemic


October 29, Fineko/abc.az. As a result of the impact of the coronavirus pandemic (Covid-19), we have seen serious volatility in oil and gas prices.

ABC.AZ reports that the relevant statement was made by Jihad Azour, the director of the Middle East & Central Asia Department of the International Monetary Fund, during discussions on the impact of the pandemic on the South Caucasus and Central Asia region.

According to Azour, they were also affected by the fact that trade and tourism in the region's economies are directly linked to these areas:

 “If you pay attention, you can see that the spread of the virus has had a multifaceted impact on the economy. For example, negative factors affecting the economy included social distance or similar requirements. If we talk about 7-8 months ago, we’ll see that most countries in this region were not prepared for the pandemic, and many of them faced another economic shock in 2014-2015.”