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Moody's Investors Service has downgraded Sri Lanka's sovereign rating to Caa2 from Caa1, taking the country's credit deeper into speculative grade as foreign reserves continued to fall as crippled forex markets and money printing made it difficult to transfer wealth out of the country from credit markets to repay debt.
Moody's Investors Service has downgraded Sri Lanka's sovereign rating to Caa2 from Caa1, taking the country's credit deeper into speculative grade as foreign reserves continued to fall as crippled forex markets and money printing made it difficult to transfer wealth out of the country from credit markets to repay debt.
Moody's Investors Service has downgraded Maldives's sovereign rating to Caa1 from B3, with a stable outlook, though tourism revenues have started to recover.
Moody's affirms Albania at B1, outlook stable Source: The Institute of Financial Services Practitioners TIRANA (Albania), May 25 (SeeNews) – Moody's Investors Service said it has affirmed Albania's B1 long-term foreign and local currency issuer ratings and the B1 foreign currency senior unsecured debt rating, with a stable outlook. The credit ratings were affirmed given Albania's resilience to the coronavirus shock despite narrow economic base and persisting structural challenges, expectation that fiscal consolidation will resume post-pandemic and that fiscal risks will re...
Carnegie Endowment for International Peace Source: Getty Summary: Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts. Related Media and Tools If you enjoyed reading this, subscribe for more! Thank you! Summary For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is go...