A Vietnamese flag flies atop the State Bank building, near the Vietcombank and Bank for Investment and Development of Vietnam buildings, in central Hanoi, Vietnam Nov 23, 2017. (Reuters file photo)Vietnam won a sovereign rating upgrade from Fitch Ratings on rising foreign-exchange reserves and strong economic growth, putting the nation closer to investment grade. The rating on the nation’s long-term, foreign currency-denominated debt was raised one level to BB, with a stable outlook, Fitch said in a statement on Tuesday. The upgrade puts Vietnam at the second-highest speculative grade and on par with Costa Rica. The budget deficit is estimated to narrow to about 4.6% of GDP in 2018 from about 4.7% in 2017, Fitch said.

Source: Bangkok Post May 15, 2018 04:41 UTC