Fitch Ratings has affirmed Ukraine's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-' with a Stable Outlook.
Fitch said in its press release that Ukraine's ratings balance weak external liquidity, high external financing needs driven by sovereign external debt repayments, a weak banking sector, institutional constraints and political risks in relation to peers, against improved policy credibility and consistency, improving macroeconomic stability, declining government debt and a track record of bilateral and multilateral support.
"Increased exchange rate flexibility, unlocking of external financing through the new IMF programme and moderate external imbalances mitigate near-term pressures on international reserves," Fitch said.
Fitch said that timely compliance with the new IMF programme is key to facilitate external financing, support progress in macroeconomic stability and mitigate vulnerabilities related to weak external liquidity, the potential for increased domestic political uncertainty and broader emerging markets volatility.
Advertising
Advertising
MORE ABOUT
U.S. Ambassador: Military, economic aid, reform support, accountability are main goals of $61 bln allocated for Ukraine
14:20, 04.05.2024
Klitschko: there cannot be strong, democratic and safe Europe without Ukraine as equal partner
12:07, 04.05.2024
Ukrainian, Czech FMs discuss progress of Czech initiative on ammo procurement, strengthening of military assistance
16:35, 03.05.2024
London doesn’t object to use of weapons in Russia – British PM
12:28, 03.05.2024
EU-Ukraine Forum on defense industry issues to be held in Brussels
15:54, 02.05.2024
LATEST
Four MPC members expect reduction of key policy rate to 11.5-12% by late 2024, remaining 7 expect fall to 13% – NBU
13:58, 06.05.2024
NBU develops alternative scenario in case of higher security risks with GDP growth in 2025 by 3.3%
11:03, 06.05.2024
New EU sanctions will apply to supplies of manganese ore and aluminum oxide to Russia – Latvian authorities
21:07, 03.05.2024
NBU lifts restrictions on import of works, services; introduces other currency concessions
21:01, 03.05.2024
Ukrainian coal could be exported due to shutdown of Centerenergo in Russian heavy shelling – Minister of Energy