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Fitch Ratings downgrades Ukraine’s LTFC to ‘high’ risk of default

by The Kyiv Independent news desk July 23, 2022 8:31 AM 1 min read
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Credit ratings agency Fitch Ratings forecasts that Ukraine’s economy will shrink 33% in 2022 with a modest recovery of 4% in 2023. It cites Russia’s war as a great stressor on Ukraine’s economy. Ukraine’s rating dropped from a “C” to a “CCC” for its Long-Term Foreign Currency rating, with “default” as the next and lowest possible rating.

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2:18 AM  (Updated: )

Moldova's Sandu advances to presidential run-off, winning after 'unfair fight.'

"The people of Moldova have spoken: our EU future will now be anchored in the constitution," Sandu said on X. "We fought fairly in an unfair fight—and we won. But the fight isn’t over. We will keep pushing for peace, prosperity, and the freedom to build our own future."
10:35 AM  (Updated: )

Update: Russian attacks against Ukraine kill 5, injure 38 over past day.

Ukrainian air defenses shot down 59 of the 116 Shahed-type attack drones launched by Russia overnight, the Air Force said. Forty-five drones were reportedly "lost" on Ukrainian territory, and 10 more are still present in the Ukrainain airspace at the time of the publication.
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