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S&P affirms Ukraine at 'B' with stable outlook

Source : 112 Ukraine

Ukraine faces risks associated with worsening global economic and financial situation
13:48, 14 March 2020

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The international rating agency Standard&Poors affirmed Ukraine's long-term foreign and national currency ratings at ‘B’, short-term ratings ’B’ and ratings on the national scale “uaA”, the outlook on them is “stable”, as the Interfax reports.

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"Despite the strengthening of fundamental factors, including an increase in foreign exchange reserves, a modest budget deficit and a reduction in public debt to GDP, Ukraine faces risks associated with a deterioration in the global economy and finances," - the agency said in a statement.

S&P adds that the consequences of recent reshuffles in the government on the dynamics of reforms in Ukraine and the country's relations with key creditors are currently unclear.

As we reported before, as a result of the epidemic of Chinese coronavirus Covid-19 in the world, Ukraine stands on ‘the threshold of financial and economic crisis’.

“Concerning the council of financial stability. The issue was about the challenges, which result from, let’s say, from coronavirus in the world. In fact, we stand on the road, in some countries it is the beginning of such a financial and economic crisis. Ukraine enters this world crisis tougher than in it was, for example, in 2008,” Shmygal said.

Related: Government meets at extraordinary session due to coronavirus

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