Fitch raised the rating of Belarus

Fitch повысило рейтинг Беларуси

Slowing inflation, rising foreign reserves and flexible exchange rate of the Belarusian ruble allows to look with optimism to the future of the Belarusian economy. The Agency Fitch raised the country’s rating to “B”.

Rating Agency Fitch upgraded the sovereign rating of Belarus from “B” to “B” and gave a “stable” Outlook development of the economy. This is stated in a press release from the Agency released on Saturday, January 27. Favorable changes caused by the slowing of inflation to 4.6 per cent and increase in foreign exchange reserves from 4.9 to 7.3 billion dollars.

In addition, the Agency assessed the need to improve coordination between monetary and fiscal policy in the country, a reasonable policy in the area of wages and the flexibility of the exchange rate of the Belarusian ruble.

On the eve of Finance Minister Anton Siluanov expressed the hope that in 2018 the rating agencies will improve ratings and Russia, which are now in the “trash level”.

Currently, Fitch is the only rating Agency that recognizes Russia’s credit rating is “investment”. According to the Minister of economic development of Russia Maxim Oreshkin, the rating Agency informed “overdone” in its decline and is now trying to postpone the moment of its increase, not to admit its past mistakes.

However, Moody’s January 26, changed the Outlook of Russia’s sovereign rating, improving it from “stable” to “positive”. While long-term Issuer rating and senior unsecured debt rating of Russia was confirmed at the same level of non-investment Ba1.

Source: Russian service of DW