The United States imposed long-anticipated sanctions on Turkey on Monday, 14 December 2020,over Ankara’s acquisition of the Russian S-400 air defence systems, further complicating already strained ties between the two NATO allies.
DBRS Morningstar confirmed on Friday, 13th of November, the Republic of Cyprus’ credit rating at BBB (low) and maintained its outlook as “stable”.
Pound traders are positioning for a choppy ride as trade negotiations between Britain and the European Union reach a watershed moment.
As mentioned in the report, the assessment of Cyprus is a result of the balancing of one of its institutional strengths reflected in per capita GDP and governance ratings rated "A" instead of "BBB" and the history of strong economic recovery and sound fiscal policy before COVID-19 shock, and on the other hand with the weaknesses of the balance sheet, in particular the further increase of the high public debt and the reduced Non-Performing Loans (NPLs) which, however, continue to increase in the banking sector.
The combination of COVID-19 and a failure to secure a post-Brexit trade deal with the European Union could cost the United Kingdom around 134 billion pounds ($174 billion) each year in lost GDP for a decade, research by law firm Baker & McKenzie showed.
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