Lithuania maintains A credit rating despite coronavirus downturn

On Friday, the international credit rating agency Fitch confirmed Lithuania’s A credit rating despite the economic coronavirus effects.

In a press release, Fitch said “Lithuania’s ratings reflect high governance indicators and a credible policy framework supported by EU membership”.

“The Stable Outlook reflects a degree of economic resilience to the Covid-19 pandemic owing to an improvement in external finances (with the decline in net external debt), a stable banking sector and a track record of fiscal prudence,” according to Fitch.

“Lithuania’s flexible economy (diversity in industry and export markets), and lack of macroeconomic imbalances […] are fundamentals that will help support a gradual economic recovery,” it said.