Azerbaijan’s $73.5 billion buffer faces new global bond reality
Global bond markets play a decisive role in determining borrowing costs, investment flows and economic growth across emerging markets. As government debt expands, inflation remains a concern and investors reassess interest-rate expectations, rising bond yields are creating new challenges for developing economies. For Azerbaijan, the changing financial environment highlights the importance of sovereign reserves, energy revenues and domestic capital market development in maintaining economic resilience and financing long-term growth.