S&P revises up Indonesia's credit rating outlook to stable

JAKARTA : S&P Global Ratings on Wednesday revised up its outlook for Indonesia's credit ratings to"stable" due to its economic recovery from the pandemic and better terms of trade, after putting the country on a"negative" outlook since April 2020.

"We revised the outlook to stable in recognition of Indonesia's improved external position and gradual progress toward fiscal consolidation," the ratings agency said in a statement issued late on Wednesday. In 2020, the ratings agency put Indonesia on a negative outlook, which means it might downgrade the country's ratings as its next move, due to risks from the country's strong counter-cyclical fiscal measures.

Indonesia's GDP growth is expected to accelerate to 5.1 per cent in 2022, versus 3.7 per cent in 2021, S&P said, noting that the conflict in Ukraine posed fresh risks.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

HSBC profit falls on credit charges as economic outlook worsensSINGAPORE/LONDON : HSBC's profit fell by less than expected in the first-quarter but Europe's biggest bank warned that more share buybacks were unlikely this year as rising inflation and economic weakness had dented its prospects.Soaring energy prices and supply chain outages, partly due to the war in Ukr
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Climate change putting 4% of global GDP at risk, new study estimatesLONDON : Climate change could see 4 per cent of global annual economic output lost by 2050 and hit many poorer parts of the world disproportionately hard, a new study of 135 countries has estimated. Ratings firm S&P Global, which gives countries credit scores based on the health of their economies, publis Sad but it’s issue of consciousness of global leaders
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »