Some more fuel to the China-credit-is-out-of-control fire. Fitch Ratings (which, don’t forget, downgraded China’s debt rating last year) has published a report which argues that “talk of deleveraging, or contracting credit, is misplaced” and warns that “no financial system can sustain rising leverage indefinitely”.
And Fitch has a few scary numbers and charts to show the extent of the problem. Continue reading »
Fresh from receiving a gong that ranks him above his peers, Turkey’s top central banker has received a further vote of quiet confidence for his management of the country’s consumption -hungry economy.
Erdem Basci, recently chosen as Central Banker of the Year by The Banker, the FT’s sister publication, can now also point to a favourable review by Fitch Ratings for one of the complicated mechanisms with which he seeks to slow the economy down. Continue reading »
Rating agency Fitch is ending the year with predictions that sub-Saharan Africa will be “a bright spot in an otherwise gloomy world in 2013″. With growth expectations of above 5 per cent, the region is set to benefit from rising investor interest, and upgrades may be in order.
Among the agency’s 15 rated sub-Saharan sovereigns, nine have stable outlooks and three positive. So who are the ones to watch? Continue reading »