Fitch rules out raising the rating of the major economies in 2021

Fitch Ratings has ruled out raising the rating of any of the major economies in 2021, despite recent developments related to coronavirus immunization.

The agency also notes that countries in Latin America, the Middle East and Africa are showing the highest levels of exposure to more negative action in the coming year.

According to Reuters, Tony Stringer, COO of Global Sovereign Ratings at Fitch, said in response to Reuters inquiries emailed to us we only have two sovereign ratings, Ivory Coast and New Zealand with A positive outlook, therefore, it appears at the present time that a credit rating lift for any major economy is unlikely in 2021.

The two regions that have already seen the most downgrades Latin America, the Middle East and Africa are already showing the highest levels of exposure to further movement in the downside in light of 9 and 12 outlooks Consecutive negative.

Fitch chief economist Brian Colton told Reuters that countries hit hard by the Corona pandemic will see the maximum economic recovery from an effective vaccine, which will be released quickly In the first half of next year.

He added, "All developed countries will clearly benefit (from the vaccine), but Britain, Spain, France and Italy were among the worst affected in the first half of 2020, and Britain and the European Union booked huge orders." From Pfizer, Moderna and AstraZeneca vaccines.

He also mentioned that the beginning of 2021 will be weak in Europe and the United States due to the recent tight lockdown measures, and that the clearest benefit from the annual growth numbers will appear in 2022.

and Colton stated that Fitch expects vaccine deployment to be slower in emerging markets given that the logistical factors for mass vaccination programs may present greater challenges while vaccine orders are less pre-booked. From developed countries.

These statements come as cases of Coronavirus are still increasing in the world, and a Reuters census revealed that the United States recorded a peak in infections with an average of 193863 cases per day over the course of Last week.

Fitch said yesterday, Tuesday, that the uncertainty related to the spread of the Corona virus as well as the economic consequences of the pandemic at the present time and in the longer term will continue to put pressure on global public finances in 2021.

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