Fitch downgrades US outlook to negative from stable

The agency affirmed the US's AAA rating but said it expected government debt to hit 130 per cent of GDP by 2021.

Lawmakers in Washington passed the US$2.2 trillion CARES Act in March to blunt the pandemic's blow and are working on another massive spending bill. "It is a truism that the US government cannot run out of money to service its debts," Fitch said."However, there is a potential risk of fiscal dominance if debt-to-GDP spirals, posing risks to US economic dynamism and reserve currency status."

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MAS extends US$60 billion swap facility with US Fed amid Covid-19 pandemicSINGAPORE - The Monetary Authority of Singapore (MAS) announced on Thursday (July 30) the extension of a US$60 billion (S$82.45 billion) swap facility with the US Federal Reserve to facilitate its US dollar lending to businesses in Singapore and the region amid the ongoing coronavirus pandemic.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »