Moody’s Investors Service last week affirmed Taiwan’s sovereign credit rating of “Aa3” and changed its credit outlook for the nation to “positive” from “stable,” which is not only a first since the ratings agency began covering Taiwan in 1994, but also a vote of confidence in the nation’s resilient economy and its good governance model, despite US-China trade tensions and the COVID-19 pandemic.
The government welcomed the move. The Ministry of Finance said that Moody’s affirmation reflects Taiwan’s strong fiscal discipline and effectiveness of restoring economic normalcy amid the pandemic, while the outlook upgrade indicates that the nation’s sovereign rating might