Spectator on facebook

Spectator on facebook


Moody's announces that investment prospects worsen

The U.S. rating agency Moody's Investors Service announced that prospects for Slovakia's rating are getting worse. The cited reasons were the deepening deficits of both the state budget and the current account, the high interest rates necessary for keeping the crown's exchange rate stable, and increasing short-term debt, all of which are factors that reduce Slovakia's ability to tackle possible external shocks., Moody's is uneasy, furthermore, about political events related to the coming general elections and legislative changes reducing the powers of the National Bank of Slovakia.

The future changes in the Slovak Republic's evaluation could concern the current Baa3 rating for bonds in foreign currencies and Ba1 for bank deposits. "NBS does not rebut Moody's opinion on interest rates in Slovakia," said Ján Onda, the NBS spokesman. "However, the main reason for the current high interest rates is high demand by the public sector for finances and not the effort to keep the crown's exchange rate stable. Slovakia's debt is growing, but in 1997, unlike in 1996, the inflow of long- and mid-term foreign capital prevails."

Top stories

Pellegrini – Smer’s crown prince or Fico’s puppet?

Peter Pellegrini will be appointed prime minister. These are the 10 notable moments in his political career.

Peter Pellegrini

Blog: The promise we must make

While covering this month’s protests in Bratislava, I had a feeling of déjà vu. They reminded me of last year’s protests in Romania.

Dozens of thousands people attended the protest rally in Bratislava on March 9.

People will protest in streets again on March 23

The organisers of the gatherings met with the president, stressing the need to have an independent interior minister.

Andrej Kiska met with the representatives of the For a Decent Slovakia initiative.

What’s new at the Foreigners’ Police in Bratislava? Photo

The Slovak Spectator visited the new premises of the Foreigners’ Police department in the Vajnory district, which opened on March 19.