Last updated: Sunday, January 17, 2010 |
VnnNews – MOF has affirmed that Vietnam still has good credit rating despite the economic downturn.
Over the last years, MOF has cooperated with international agencies such as Moody’s, Standard & Poor’s and Fitch Ratings to give credit ratings to
Vietnam.
In 2007-2008, Moody’s gave ‘B3a’ to Vietnam with prospects rated as “stable.” Many countries in the world saw their credit ratings fall due to the global economic crisis in late 2008.
Vietnam still has ‘B3a’ after Moody’s updated the socio-economic situation in Vietnam. According to MOF, despite difficulties in the global market, Vietnam still obtained good economic development in 2009, with GDP growth at 5.32 percent and the inflation rate kept at 6.5 percent.
The credit rating for Vietnam is one grade higher than that given to some other Southeast Asian countries. The Philippines, for example, has been given Ba3/BB, while Indonesia received Ba2/BB-.
VietNamNet/VNE, VnMedia
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