Moody’s Cuts Bangladesh Further Into Junk on Political Risks18 Nov 2024 17:47
is smiler actually on the same wavelength with the ****e that’s happened in bangla??……..
the ratings agency slashed the nation’s ratings to b2 from b1, sending it deeper into junk territory and lowered its outlook to negative from stable. nations like rwanda, cambodia and mongolia are rated at a similar grade.
“the downgrade reflects heightened political risks and lower growth, which increases government liquidity risks, external vulnerabilities and banking sector risks,” analysts young kim and gene fang said in a statement. ongoing political uncertainty and weakening growth lead bangladesh to rely increasingly on short-term domestic debt to finance its deficit, raising liquidity risks, they said.
the rating cut highlights the economic challenges a fledgling interim government, led by nobel prize winner muhammad yunus, faces as the nation grapples with dwindling foreign exchange reserves and lost business amid the recent political upheaval. fitch ratings also downgraded bangladesh’s sovereign rating in may, underscoring the need for the nation to shore up its forex stockpile, even after securing a $4.7 billion bailout from the international monetary fund last year.
https://www.yahoo.com/news/moody-cuts-bangladesh-further-junk-121304933.html