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ECONOMIC BRIEFS

Fitch IBCA downgrades forex rating

Fitch IBCA, the international rating agency, on October 7 placed Slovakia's 'BBB-' long-term foreign currency rating on RatingAlert negative pending a review of recent political and economic developments. The 'A-' local currency rating is also subject to the RatingAlert announcement.

The agency recognised that the recent elections are likely to bring to power a new government in a position to improve relations with the international community and return Slovakia into the mainstream of the EU accession process.

The recent devaluation of the crown will aid external adjustment but cannot carry the entire burden, said the agency. In the absence of an accompanying fiscal adjustment package, Slovakia risks being forced into a severe recession as a loss of confidence ends the availability of external finances.

The agency added that appropriate action could allay the risk of a foreign exchange crisis in the short-term. However, this risk would inevitably emerge again later unless the authorities could re-inject impetus into the process of structural reform.

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EU roaming fees to end on June 15 – in theory

Slovak customers still waiting to find out how mobile operators will implement change.

Archaeologist pieces together early history of what is now western Slovakia Photo

For an archaeologist, the most important thing is his most recent rare discovery, says Július Vavák.

Students visited Svätý Jur as part of their European Wanderer project

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár