국제신용평가사 피치, 한국 국가신용등급 "안정적" 유지<br /><br />The COVID-19 pandemic has continued to leave its mark on the global economy.<br />This year, the highest number of countries have received downgraded ratings or outlooks by the three major global credit appraisers including Fitch.<br />Yet, South Korea has managed to maintain its 'double-A-minus' level for over eight years.<br />Kim Sung-min explains why such a decision is even more important this year.<br />Global credit assessor Fitch Ratings has decided to keep South Korea at double-A-minus, the fourth-highest...with an outlook of "stable."<br />Korea has kept this rating since 2012 and continues to do so despite a global economic downturn caused by COVID-19.<br />Fitch said it based its decision on South Korea's steady economic performance,... despite certain challenges including North Korea and an aging society.<br />It added that...although the pandemic is weighing on the economy, South Korea has limited the damage through robust policy responses.<br />Though the level has remained the same for over eight years, this recent affirmation is meaningful...since a record number of countries have seen their outlooks or credit ratings downgraded this year.<br />Ratings of countries including the UK and Canada have been downgraded, and the U.S. and Japan have received scaled-back outlooks.<br />"We have been keeping the supply and demand of foreign exchange in a stable condition, although the country has seen a recession in trade surplus. And I assume they kept the rating for South Korea, considering its asset market stability."<br />However, some experts suggest that, although maintaining the same level is positive, caution is still advised.<br />"The fact that a global credit agency has assessed South Korea's economy in a positive way is meaningful. However, it is also true that some of their past ratings did not fully reflect the upcoming difficulties."<br />With the on-going uncertainties, Fitch forecasts the nation's GDP to contract by one-point-one percent this year.<br />But this is still a smaller decline than the Bank of Korea's projection of a one-point-three percent contraction...and an average seven-point-one contraction of countries with the same credit rating.<br />Kim Sung-min, Arirang News<br />
