According to Fitch Ratings, lower commodity prices this year, along with a stronger US dollar, could exert downward pressure on credit ratings in emerging markets, including the Middle East, Africa and Latin America.
Addressing the media, James McCormack (pictured), Fitch's head of sovereigns, said:
"If you look at the negative outlooks that are in place today there is a disproportionate number of them that are accounted for by emerging markets that are net exporters of commodities. Regionally that leads to the Middle East and Africa and secondarily to Latin America. So that is where we expect to see continued downward pressure on ratings in 2016."
According to Reuters, Fitch has scheduled a review of the ratings of Namibia and Tunisia on 4 March, and Azerbaijan and Turkey on 26 February.
- Stay connected, up to date and in the loop on what is happening in the world of finance and keep track of newly published expert insights and interviews with CFOs and CEOs. Become an online member and receive our newsletter, follow us on Twitter, like us on Facebook and join us on LinkedIn.
