Crisis atlas / AZE

Azerbaijan

7 distinct crisis events in 2 episodes, 1995–2019, from the union of five primary chronologies.

Debt profile: government debt trajectory and crisis-start levels →

Banking crises

Currency crises

Sovereign debt crises

Crisis events

1995–2019

Span

Crisis timeline

Every distinct (year, type) event, most recent first, with the chronologies flagging it. Start-year sources (GMD, JST) do not mark continuation years, so long episodes show lower agreement after their first year.

2019
Bankinglaeven_valencia1 source
2018
Bankinglaeven_valencia1 source
2017
Bankinglaeven_valencia1 source
2016
Bankinglaeven_valencia1 source
2015
Currencygmd, laeven_valencia2 sources
Bankinglaeven_valencia1 source
1995
Bankinggmd, laeven_valencia2 sources

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) | Jordà-Schularick-Taylor Macrohistory R6 | Laeven & Valencia (2020) | Reinhart-Rogoff via HBS BFFS | ECB/ESRB Financial Crises Database Methodology

Macro context around each episode

Inflation, central-bank policy rate, and government debt in a window of five years either side of each crisis episode (consecutive crisis years bridged across gaps of up to two years). Crisis years shaded.

1995

Banking

Inflation (% y/y)

Policy rate (%)

Govt debt (% of GDP)

2015–2019

BankingCurrencyFiscal cost 31.0% of GDP, output loss 90.5% of GDP (Laeven-Valencia 2026)

Inflation (% y/y)

Policy rate (%)

Govt debt (% of GDP)

Source: Global Macro Database 2026_06 (Müller, Xu, Lehbib & Chen 2025) Inflation is % year over year; policy rate is the central-bank rate in %; government debt is % of GDP. Methodology