Pandemic strikes blow to EM sovereigns
Low-income sovereigns most exposed are those reliant on commodity exports, tourism or remittances
5 Jun 2020 | The Asset
FITCH has made 18 EM sovereign rating downgrades so far in 2020 - the highest ever annual total in less than four months. There is also a sharp change in outlooks with now a net negative balance of 15, despite the downgrades, from five at end-2019.