FM Sitharaman claims rating downgrades will reduce policy options for developing countries1 min read . Updated: 18 Jul 2020, 11:11 PM IST
Speaking at the G20 finance ministers and central bank governors virtual meeting under the Saudi Arabia presidency, Sitharaman said 'pro-cyclicality of credit rating downgrades by the rating agencies and its deterrent impact on policy options'
Finance minister Nirmala Sitharaman on Saturday criticized the sovereign rating downgrades by credit rating agencies holding that this may limit policy options for emerging market economies in their fight against coronavirus pandemic.
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