Moody's: Taiwan currency stable

Moody's Investors Service said the outlook for Taiwan's Aa3 foreign- and local-currency sovereign rating is stable.

Taiwan's growth prospects have improved as a result of closer trade integration with China, while many of its rating peers are undergoing major structural adjustment processes, Moody's said.

The stable outlook incorporates the fact that the likely resumption of fiscal consolidation is balanced by the considerable headwinds to growth posed by an uncertain external environment, the agency said.

The strength of the government's crisis management suggests an appropriate degree of policy flexibility that has reinforced Taiwan's resilience to large external shocks, Moody's said.

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