Central Asia

    Caucasus and Central Asian countries may pose a 4.3 percent overall growth rate in 2010 as they slowly recover from the financial crisis that hit the world in 2009, according to the International Monetary Fund. Growth in energy-exporting countries is likely to be stronger than in countries that import energy, IMF said. Among energy-exporting countries, IMF predicts that the economies of Azerbaijan and Kazakhstan will grow from 2 percent to 3 percent in 2010, while Uzbekistan could pose an 8 percent growth rate. IMF encourages Caucasus and Central Asian countries to focus on reviving private-sector credit growth to be able to further boost their economies.

    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.