Economists have mixed views on Fitch’s rating cut

Juwai IQI chief economist Shan Saeed (file pic) lambasted the rating agency for its assessment of Malaysia’s sovereign rating, saying that markets have lost confidence in rating agencies since 2010.

KUALA LUMPUR: Economists have given mixed views on Fitch Ratings’ latest revision of Malaysia’s sovereign rating, with some saying it is on expected lines while others expressed disappointment.

As the global economy and markets enter a vortex of weak data, poor earnings and rising bankruptcies, the assessment puts further stress on an economy that is already strained due to the pandemic.