Standard & Poor`s revises outlook on Belarus to «stable»

19.04.2012 [17:28]
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Baku, April 19 (AZERTAC). Standard & Poor`s has revised the outlook on Belarus from `negative` to `stable` and affirmed its long- and short-term sovereign credit ratings on the country at `B-` and `C`, respectively.

"The outlook revision reflects our view of signs of stabilization in Belarus` economy," the international credit ratings agency said in a statement.

According to the agency, Belarus` foreign currency reserves have increased, immediate pressure on the exchange rate has eased, and inflation, although still very high, is decreasing. Furthermore, S&P said, short-term external financing constraints have lessened because Russia has "injected inflows of funding and capital" equal to 12 percent of Belarus` 2012 GDP.

The agency warned that the ratings on Belarus were "constrained by political risks, high government financing needs, reliance on external funding, and the government`s reluctance to introduce much-needed structural reforms to improve the country`s competitiveness and growth prospects.

Standard & Poor`s revises outlook on Belarus to «stable»

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