One of China's biggest real estate developers Evergrande Group appears likely to be unable to repay all of the USD 89 billion it owes banks and other bondholders, financial rating agencies say.
Fitch Ratings Senior Director, Head of Asia-Pacific Sovereign Ratings, Stephen Schwartz said vaccination is the key to economic recovery across the world.
Affirming BPCL's rating at 'BBB-' with a negative outlook, Fitch said that it continues to treat the potential divestment of the company by the Indian government as an event risk.
The firm has cut its foreign-currency borrowings outside India by 36 per cent following pre-payments of USD 7.8 billion in the financial year ending March 2021.
For central banks in some emerging markets, a key driver for researching CBDCs is the opportunity to bring underbanked communities into the financial system and improve the cost, speed and resilience.
It said currently authorities are implementing lockdowns more narrowly, and companies and individuals have adjusted behaviour in ways that cushion the effects.
However, while the agency noted that the second wave may delay India’s economic recovery, it is unlikely to derail it.
With 8.5 hospital beds per 10,000 population and 8 physicians per 10,000, the country's healthcare sector is not equipped for such a crisis.
Fitch Ratings has revised its forecast for India’s GDP growth for the next financial year beginning April 1 to 12.8 per cent from its previous estimate of 11 per cent.
In the Budget for 2021-22, Sitharaman unveiled a massive spending plan, which would be met partly from enhanced borrowings, to pull the economy out of the trough.
This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.
The new entrant in the telecom industry, Reliance Jio, is expected to shift its approach from a hunter to a farmer by 2018, said Nitin Soni, Director at Fitch Ratings.