Fitch Ratings affirms Belarus Issuer Default Rating at “B” with a Negative Outlook

On May 7, 2021 Fitch Ratings affirmed Belarus's Long-Term and Short-Term Foreign- and Local-Currency Issuer Default Ratings at “B”, the Negative Outlook.

The rating reflects a high level of per capita income, an improved economic policy framework and clean debt repayment records. At the same time the agency noted subdued economic growth prospects, insufficient foreign exchange reserves level, vulnerable banking sector, government debt exposed to foreign currency risks and significant external indebtedness of the country.

According to analysts, the continued negative outlook reflects vulnerable points that have increased in the second part of the 2020, which poses risks to macroeconomic and financial stability.

Fitch forecasts the growth in Belarus’s economy in 2021 on 0,7 per cent.