Fitch: Upgrades of major economies unlikely in 2021 – Reuters

Omkar Godbole FXStreet Contributor

Ratings agency Fitch told Reuters on Tuesday that upgrades of any major economy are unlikely in 2021 despite increased expectations for a swift global economic recovery on potential coronavirus vaccines.

Fitch added that countries in Latin America, the Middle East, and Africa continue to show the highest level of vulnerability to further adverse action in the coming year.

Key quotes

We have only two sovereign ratings (Cote d’Ivoire and New Zealand) on Positive Outlook, so upgrades of any major economies currently look unlikely in 2021.

Countries hit hard by the coronavirus will see the maximum economic boost from an effective vaccine rolled out swiftly in the first half of next year.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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