The State Bank for Foreign Economic Activity of of Turkmenistan to expand cooperation with Fitch Ratings Agency
The State Bank for Foreign Economic Activity of Turkmenistan will expand cooperation with the International Agency Fitch Ratings. Deputy Prime Minister Hojamyrat Geldimyradov reported on the preparation of the relevant agreement at a meeting of the Turkmen government on Saturday.
As noted, strengthening cooperation with reputable rating agencies will help increase the volume of attracted foreign investments, simplify credit conditions, and in general further development of Turkmenistan’s foreign economic activity, TDH reports.
In August 2023, the International Rating Agency Fitch Ratings confirmed the long-term default rating of the issuer of Turkmenistan in foreign currency at the level of "B+" with a ”Positive” outlook.
A B+ rating means that the country is at an average level in the group of positive ratings, and shows a strong balance in the presence of significant natural resources. The public rating is used by banks and other organizations, including those who wish to receive an independent assessment of the possibility of investing in the country.
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