Fitch announced the inevitability of default in Belarus

London-based international rating agency Fitch Ratings has lowered the long-term rating of Belarus from “CCC” to “C”. The new indicator means “imminent default”. The agency noted that the downgrade occurred after the Belarusian Ministry of Finance announced on June 29 that the country would pay Eurobond payments in Belarusian rubles instead of US dollars. At … Read more