The State Bank for Foreign Economic Affairs of Turkmenistan plans to expand cooperation with the international agency Fitch Ratings, local TV channel Altyn Asyr reports.
The issue was discussed at a government meeting. Deputy Prime Minister Hojamurad Geldimuradov said that strengthening co-operation with reputable rating agencies will help increase the volume of foreign investment and simplify credit conditions.
Fitch Ratings in August said that it has affirmed Turkmenistan's Long-term foreign currency Issuer Default Rating (IDR) at 'B+'.
The information says that the rating is supported by Turkmenistan's very strong sovereign balance sheet, with the lowest level of public debt and highest sovereign net foreign assets (SNFA)/GDP in the peer group, underpinned by the world's fourth-largest gas reserves.
Turkmenistan is a key player in the regional energy market. Fitch anticipates only a gradual increase in gas production through 2025, following a 1.8% fall in 2022.
Turkmen gas (with accounted for 62% of exports in 2022) is sold to China, Russia, Azerbaijan and Uzbekistan.
Credits: Eziz Boyarov
Comments (0)