Moody's eyes Tajikistan for downgrade

Moody's Investors Service said it placed the government of Tajikistan's B3 long-term issuer and senior unsecured ratings on review for downgrade.

“The review for downgrade reflects Moody's expectation of a sharp and prolonged economic downturn in Russia (Ca negative) which may lead to a sustained deterioration of Tajikistan's growth potential, primarily through a projected fall in remittance inflows. Moreover, in the absence of the development of alternative sources of external income, lower remittances could pressure external vulnerability risks, macroeconomic and financial stability,” the agency said in a press release.

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