Azerbaijan

Economic diversification is needed not only to reduce vulnerability to shocks but also to offset depleting oil reserves

Spending plans for 2015 will have to be revised if world oil price stays below 90 dollars/barrel

Government may fall into trap of siding with Shias against Sunni militants

Helicopter incident follows provocative Armenian-Karabakhi exercises and will undermine a recent flurry of diplomacy

Azerbaijan will need European-style private pension funds to get European-level old-age pensions

Pardoning a few opposition activists will not change the regime's nature, although it seems keen to keep its EITI status

Azerbaijan will seek extending foreign policy ties with like-minded states

The Azerbaijani regime puts holding onto power first and can safely ignore Western human rights critics