On Friday, the international credit rating agency Fitch confirmed Lithuania’s A credit rating despite the economic coronavirus effects.
In a press release, Fitch said “Lithuania's ratings reflect high governance indicators and a credible policy framework supported by EU membership”.
“The Stable Outlook reflects a degree of economic resilience to the Covid-19 pandemic owing to an improvement in external finances (with the decline in net external debt), a stable banking sector and a track record of fiscal prudence,” according to Fitch.
“Lithuania's flexible economy (diversity in industry and export markets), and lack of macroeconomic imbalances [...] are fundamentals that will help support a gradual economic recovery," it said.
In February, Fitch upgraded Lithuania’s credit rating for the first time in six years. Later the same month, Standard & Poor’s also upgraded the country’s credit rating to an A+, in what Lithuanian Finance Minister Vilius Šapoka said was a “historic moment”.