Standard&Poor’s affirms Belarus “B/B” Ratings (outlook negative)

On September 11, 2020 Standard&Poor’s affirmed its “B/B” long- and short-term foreign and local currency sovereign credit ratings on Belarus, changing the outlook from «stable» to «negative».

According to Standard&Poor’s estimates, negative outlook reflects rising risks to financial stability of the banking system, which is due to significant outflow of deposits in August this year and increased demand for foreign currency, which can lead to significant reducing foreign exchange reserves and create risks of fulfilment of contingent liabilities for the Government of the Republic of Belarus.