Today news
The same in other media
Who’s afraid of ratings agencies?
Reading now: 788
Last week, Fitch Ratings cut India’s GDP growth forecast for the current fiscal year to a mere 0.8%, as the stringent lockdown measures to contain the covid pandemic brought economic activity to a halt.
Early this month, the global credit rating agency had warned of a rapid deterioration in the ability of countries to repay their debts.
It’s not just Fitch. Various global agencies that evaluate credit quality seem ready to rate sovereign debt downwards as governments see their revenues drop and spending needs rise, enlarging deficits and requiring greater national debt.
Many would need to expand borrowings even more for stimulus programmes to deal with the current crisis. Should India worry about a potential downgrade?
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
COVID-19
United States
|
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
|
India
|
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
|
Brazil
|
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
|
United Kingdom
|
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
|
Russia
|
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
|