On 16 may, Minsk /Correspondent. Learned/. Fitch ratings affirmed long and short-term sovereign credit ratings of Belarus on liabilities in foreign and national currency at level b, forecast “stable”. The rating of Eurobonds of Belarus also confirmed at level, BelTA learnt from the Finance Ministry of Belarus.
The rating reflects improved macroeconomic stability, high income per capita, a balanced budget policy and an impeccable history of debt repayment.
In this case, Fitch noted the weak growth prospects of the economy, high public debt exposure to currency risks, low foreign exchange reserves, the vulnerability of the banking sector.
In the opinion of the Agency, undertaken in Belarus, fiscal and monetary policy will help to maintain macroeconomic stability and manage risks refinancing of debt, despite the significant impact of the pandemic COVID-19.
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