| 18.05.2011 - Fitch revises Azerbaijan's outlook to positive |
| Assets of the State Oil Fund of Azerbaijan (SOFAZ), the sovereign wealth fund, increased by USD7.9bn to USD22.8bn (44% of GDP) at end-2010, and by a further USD3bn in Q111. Sovereign net foreign assets, which also incorporate Central Bank of Azerbaijan (CBAR) reserves, reached 49% of GDP, ahead of Kazakhstan ('BBB-'/Positive) and Russia ('BBB'/Positive) in GDP terms and second only to Thailand ('BBB'/Stable) in the 'BBB' category..............................................Full Article: Source |