Finance ministry classifying credit rating as secret? 12:52, 01/08/2007
In June-July the sovereign credit rating was assigned to Belarus by three international agencies. The finance ministry of Belarus expresses its content with the assigned ratings but, meanwhile, it has refused to open them to the public.
Three agencies, Standard&Poor`s, Moody`s è Fitch Ratings, assigned their ratings to Belarus. It was stressed by the finance ministry of Belarus that the assigned ratings correspond to the level of preliminary values previously estimated by the finance ministry, the National Bank and the economy ministry, Telegraf.by reports. Presently, specialists of the finance ministry have been making analysis and comparison of the Belarusian ratings with other countries’ ratings, the BelaPAN informs. The National Bank of Belarus Piotr Prakapovich at the press conference on 10 May declared that ”the rating of Belarus is to be at the Ukraine’s level, i.e. “B” or “B-“. “Hopefully, the rating will correspond to the economy situation in Belarus. The rating is to be favorable”, said Piotr Prakapovich in May. Though Alyaksandr Lukashenka declared earlier that for Belarus a high credit rating was required. ”The talks with the rating agencies must be conducted in such a way as to minimize the risk of a low rating to be assigned”, he said in June at the conference on the banking system development . At the finance ministry of Belarus they hope that the credit rating acquired by our country will promote optimization of borrowing terms and conditions in the international markets both for the republic and for the country’s enterprises and banks.