Romania debt upgraded to investment grade

It’s not often you get one of the ratings agencies upgrading a country these days, but Fitch has done it for Romania. The agency rewards the country’s efforts in reducing its budget deficit and an improving economy by pulling it out of junk category to BBB-, the lowest investment grade. GDP rose 1.7% in Q1 2011 compared to 2010 thanks to renewed interest in exports.

Amazing what happens when your currency can lose a bit of value for a while, isn’t it? (Don’t tell that to the Greeks…

 

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