Fitch affirms Armenia at 'B+'; Outlook Stable
Fitch Ratings has affirmed Armenia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B+' with a Stable Outlook, Fitch Ratings said in a statement.
"Armenia's 'B+' IDRs reflect strong per-capita income, governance and business environment indicators relative to peers, as well as a robust macroeconomic and fiscal policy framework and credible commitment to reform, underpinned by IMF support. Set against these strengths are a high share of foreign-currency denominated public debt, relatively weak external finances, and geopolitical risks", the statement says.
According to the statement, Armenia will be adversely affected by spillovers from the crisis in Russia, given important linkages between the two economies, but Fitch presently expects that the sovereign's policy buffers, financing options, and long-dated commercial debt profile can help it navigate the shock without major impairment of repayment capacity.
Other materials on this subject
- World Bank Forecasts 3.5% Economic Growth for Armenia in 2022 The report also forecasts that the economic growth in Armenia will be 3.5% in 2022, 4.6% in 2023 and 4.9% in 2024.
- IMF Forecasts 1.5% Economic Growth for Armenia in 2022 The Armenian economy has continued to recover, posting 5.7 percent growth in 2021, and continuing to grow strongly in early 2022.
- Armenia Central Bank Revises Economic Growth Forecast for 2022 The Bank now forecasts 1.6% economic growth for the year, President of the CBA Martin Galstyan said at a press conference today.
- Armenia Central Bank Raises Refinancing Rate by 1.25 Percentage Point The Lombard repo facility rate is at 10.75 percent.
- UN Ready to Provide Anti-Crisis Support to Armenia to Cope with Current Economic Situation In the context of the ongoing Russian-Ukrainian military operations, Minister Tigran Khachatryan presented the impact on the Armenian economy.
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03.07.2022
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