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Breakfast @ Tuoi Tre News – May 7

Friday, May 07, 2021, 08:25 GMT+7
A farmer shows three beetles whose species has ravaged his orchards in Binh Phuoc Province, located in southern Vietnam, for the past month. Photo: A Loc / Tuoi Tre
What you need to know today in Vietnam:
COVID-19 Updates
Vietnam added one local coronavirus case on Friday morning, bringing its caseload to 3,091 patients, according to the Ministry of Health. Recoveries remain at 2,560 and deaths at 35.
Almost 748,000 people have been vaccinated against COVID-19 in Vietnam since the country rolled out its mass inoculation on March 8, according to the health ministry s data.
Society
Minister of Public Security To Lam has ordered a national campaign to detect illegal immigrants in Vietnam, the ....

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PV Power rated "Positive" by Fitch Ratings | Business | Vietnam+ (VietnamPlus)

At
Hanoi (VNA) - Credit ratings agency Fitch
Ratings has for the first time assigned the PetroVietnam Power
Corporation (PV Power) a Long-Term Foreign-Currency Issuer Default Rating (IDR)
of “BB” with a positive outlook.
The rating is on par with that of Vietnam and
major groups such as the Vietnam National Oil and Gas Group (PetroVietnam) and Vietnam Electricity (EVN).
PV Power is the first Vietnamese power producer and
the first unit of PetroVietnam to be assigned an international credit rating.
Despite the effects of the COVID-19 pandemic last
year and in the opening months of 2021, PV Power still stably, safely, and ....

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Fitch affirms Morocco at 'BB+' with a Stable Outlook

Fitch Ratings has affirmed Morocco s Long-Term Foreign-Currency Issuer Default Rating (IDR) at BB+ with a Stable Outlook.
Morocco s BB+ rating is underpinned by a record of macroeconomic stability reflected in relatively low inflation and GDP volatility pre-pandemic, a moderate share of foreign-currency (FC) debt in total general government (GG) debt, and relatively comfortable external liquidity buffers. These strengths are balanced against weak development and governance indicators, high GG debt, and budget and current account deficits (CAD) that are wider than rating peers.
The central government (CG) fiscal deficit rose to 7.7% of GDP in 2020 from 4.1% in 2019 (excluding privatisation proceeds). Covid-19-related containment measures and lower global demand caused a steep fall in revenue while current spending surged to mitigate the health impact and cushion the financial blow on households and corporates. The authorities received about 2.2% of GDP in grants from do ....

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Fitch affirms Romania at 'BBB-' with negative outlook – The Diplomat Bucharest

Fitch affirms Romania at 'BBB-' with negative outlook – The Diplomat Bucharest
thediplomat.ro - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thediplomat.ro Daily Mail and Mail on Sunday newspapers.

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Fitch Revises Cameroon's Outlook to Stable; Affirms at 'B'

Mon 12 Apr, 2021 – 8:45 AM ET
Fitch Ratings – Hong Kong – 12 Apr 2021: Fitch Ratings has revised the Outlook on Cameroon’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to Stable from Negative and affirmed the IDR at ‘B’.
KEY RATING DRIVERS
The revision of the Outlook reflects that the pandemic shock caused only a mild deterioration in public finances, which Fitch expects will be reversed, and confidence that the government will secure sufficient funding in the medium term, limiting debt service and refinancing risks.
Cameroon’s public finances have proven relatively resilient to the pandemic shock and we expect the deficit to be on a downward path over the medium term. The fiscal deficit on a cash basis widened in 2020 to 4.5% of GDP from 3.0% in 2019, owing to an only mild hit to tax collection and limited expenditure increases in response to the coronavirus shock (1.3% of GDP), given financing constraints. The phasing-out of pandemic-relat ....

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