the International rating Agency Fitch Ratings lowered the sovereign ratings of 33 countries for the period from January to June this year, a record, according to CNBC.
the Forecast for another 40 countries downgraded to “negative.” Experts expect that this will lead to lowering of credit ratings in the near future, and the economy will be threatened, said Lenta.ru.
In the list with lower ratings are included, even such reliable borrowers, such as Australia, the UK and Hong Kong.
This trend is explained by the fact that many governments increased their spending to support the economy due to the impact of the pandemic coronavirus infection COVID-19. It is expected that this will lead to the deterioration of the financial situation of all 119 countries tracked by Fitch.
Recall that the outbreak of pneumonia caused by a new type of coronavirus, was recorded in December 2019 in the Chinese city of Wuhan. March 11, 2020, the world health organization (who) officially recognized the situation with coronavirus pandemic. To date, cases of infection were recorded in almost 200 countries and regions of the world. In General, the number of infected COVID-2019 in the world exceeded the 10.8 million people who died more than 520 thousand people. The pandemic has had devastating effects on the world economy. Under the powerful kick hit many industries, including transport, tourism, hospitality, automotive, construction, retail, and entertainment.
let’s Add, that on 24 June the international monetary Fund (IMF) has adjusted towards a sharp deterioration in its forecast for the global economy for the current year and now expects a decline of 4.9% instead of 3%, is expected in April. As acknowledged in the IMF, the pandemic COVID-19 had a negative impact on global economic activity in the first half of 2020 than projected, and the recovery more gradual than previously expected.
the IMF warned that the global economic recovery in 2021, ratherthis will go at a slower pace than initially estimated in April — a growth of 5.4% instead of 5.8%.
Earlier, on 27 March, the managing Director of the IMF Kristalina Georgieva stated that the world economy went into recession. “Now it is clear that we entered the recession, such as bad or even worse than in 2009”, — said the head of the Fund. However, she is expecting a recovery of the global economy in 2021, but if “will be able to cope with the virus around the world and prevent problems with liquidity”.
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