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Japanese rating agency Rating and Investment Information (R&I) upgraded Ukraine's sovereign credit rating by two positions from CCC + to B, with a stable and favourable forecast.
This information was reported by the press service of the Ministry of Finance of Ukraine.
According to the Ministry of Finance, the Japanese agency notes that the Ukrainian economy continues to recover, and the fiscal position has improved. International reserves are growing and Ukraine’s resilience to external shocks is improving.
“Analysts at R&I agency note that Ukraine’s GDP is growing, inflation rate is decreasing, and a temporary increase in the balance of payments deficit to 3-4% will not affect the creditability of Ukraine. Paying attention to the significant needs for debt refinancing and to maintain a healthy financial environment, financial support from the International Monetary Fund is of great importance for Ukraine.” – the message says.
Agency analysts noted that the public debt to GDP ratio decreased from 69.2% as of the end of 2016 to 52.3% as of the end of 2018.
Source of information: https://www.ukrrudprom.ua