Fiscal Exit Strategies Key to 'AAA' Sovereign Credit Outlook - General Comment - 2009/09/23 - Fitch Research

Report title: Fiscal Exit Strategies Key to 'AAA' Sovereign Credit Outlook

from Fitch Research
2 page (1150 word) report published Sep 23, 2009

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...Fiscal exit strategies will play a key part in Fitch Ratings' assessment of the outlook for sovereign creditworthiness in highgrade sovereigns. The agency believes that the credibility of the commitment to low inflation and sustainable public finances needs to be strengthened by greater clarity on strategies for withdrawing the exceptional fiscal stimulus of this year and next. Governments need to validate confidence in their commitment to fiscal consolidation over the medium term -- a key support to their `AAA' status and ability to fund and sustain large fiscal deficits in the near term at low cost -- by articulating credible exit strategies relatively soon. Fitch recognises that the operation of automatic stabilisers and coordinated discretionary fiscal easing measures have played an important part in reducing the risks of a severe and sustained deflationary global economic slump, particularly in the presence of huge uncertainties over the transmission of monetary policy easing in a...

Report Type:

General Comment

Company(ies):

Government of Finland, Government of Singapore, Government of France, Government of United States of America, Government of Switzerland, Government of Germany, Government of Norway, Government of Sweden, Government of Netherlands, Government of Canada, Government of Luxembourg, Government of Denmark, Government of United Kingdom, Government of Austria, Government of Spain

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Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.

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