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COFACE: Political crisis extension will drop country rating

Cristian Ionescu, the head of COFACE Romania, declared that the mere government fall does not change the rating, but the extension of political crisis will.

Lucian Albu, director of the Institute for Economic Prognosis of the Romanian Academy told HotNews.ro-EurActiv.ro that the influence of the political situation on the exchange rate should not be a significant one, but economic analyst Radu Limpede declared that he expected a rate of 4.35 lei/euro in the following period of time, to reach 4.4 lei/euro by the end of the year. "We hope that BNR is ready to react," Albu added.

Limpede explained that the financial market expected the political changes and they had included them in investors' plans. "If we do not have speculative attacks on the leu, BNR will be able to spend some money to maintain the exchange rate stability until the elections," Limpede said. An extension of the crisis for more than a month will attract a rating drop. Usually, a government fall is followed by activity blocking. If such a paralysis appears and is a lasting one, reforms may be delayed and this will attract a rating drop, said Cristian Ionescu. He added that the next rating will be calculated in December.

Sursa: http://www.actmedia.eu

Tags: rating political extension crisis bnr euro

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