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S&P issues AA- for Taiwan sovereign credit rating

S&P issues AA- for Taiwan sovereign credit rating

Taipei, April 9 (CNA) Standards and Poor's on Thursday maintained its favorable outlook for Taiwan by keeping its "AA-" sovereign credit rating unchanged.
The international credit rating agency said that Taiwan's credit rating is a reflection of its strong monetary flexibility, sound monetary management, and ability to maintain one of Asia's lowest inflation rates. The agency also lauded Taiwan's lively private sector, moderate government debts and strong external position, with foreign reserves tallied at US$414.689 billion as of the end of March, down US$3.137 billion month-on-month. The agency, however, warned that it is expecting Taiwan to see mild inflationary pressure in the medium term. Nonetheless, it said Taiwan's sizable foreign reserves will aid economic growth, and help contain government debt in the next two years. It added that the acumen of Taiwan's central bank, and nimble monetary policies will also help stave off impacts of international developments. (By Pan Chih-yi and Ted Chen)


Updated : 2021-09-22 18:42 GMT+08:00