Interview

The new Andorran government has very serious plans related to infrastructure improvements, says the Minister of Economy and Business of Andorra, Jordi Gallardo Fernandez

The Minister of Economy and Business of Andorra, Jordi Gallardo Fernandez talked to all-andorra.com about the new government’s main projects. Among them were the construction of the airport in Andorra with a large capacity, the possible construction of a railway leading to Andorra from both France and Spain and reforming the banking system. He also …

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Interview

Cash will be the best asset for the next 12 to 24 months, says L. Burke Files, an expert in international finance, due diligence and anti-corruption

L. Burke Files is an international investigator, due diligence expert, and international finance and corporate world insider. For nearly three decades, he has worked as a specialist in international finance and due diligence working on projects in over 100 countries. Before founding FE&E in 1993, he was a licensed commodity FCM and CTA for Oppenheimer …

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All Andorra news / Business and Economy

Anna Olsina has been appointed Deputy General Business Manager in the Andbank Group

photo: Andbank

The Andbank Group, with its commitment as a benchmark private banking international family banking and financial group, reinforces its senior management by adding a manager of recognised standing to its headquarters, reports the bank. The aim of the appointment, pending AFA authorisation, is to ensure the cohesion and standardisation of the highest …

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All Andorra news / Society

A judge in Andorra has charged 28 people, including former officials in Venezuela, with money laundering offenses

A judge in Andorra has charged 28 people, including former officials in Venezuela, with money laundering offenses over a kickbacks-for-contracts scheme that plundered $2 billion from the Venezuelan state oil company between 2007 and 2012.

Investigating magistrate Canolic Mingorance issued the indictments on Thursday, wrapping up a five-year investigation into opaque deposits in the Banca Privada …

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All Andorra news / Business and Economy

Standard & Poor’s confirms the long-term rating of Andorra at the level of “BBB / A-2” and maintains a stable outlook

Standard & Poor’s confirms the long-term sovereign rating of Andorra at the level of “BBB / A-2” and maintains a stable outlook. Analysts of the agency positively rate the reform program in Andorra, good financial results and rapprochement with international standards.

The agency points out that the rating can be raised if Andorra’s negotiations with the …

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All Andorra news / Interview

I don’t expect an outflow of capital from the banks of Andorra after the agreement on tax information exchange comes into force, says Gilbert Saboya, minister of Economy, Innovation and Competitiveness of Andorra

Minister of Economy, Innovation and Competitiveness of Andorra, Gilbert Saboya, tells all-andorra.com about the Andorran economy in 2017, plans for 2018 and targets of the new ministry.

According to rating agencies, banks play too much of an important role in Andorra’s economy and it is dangerous for its development. What do you think?

The good news is …

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All Andorra news / Business and Economy

Fitch Ratings has affirmed Andorra’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’

Fitch Ratings has affirmed Andorra’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’. The Outlook is Positive. A full list of rating actions is at the end of this rating action commentary.

KEY RATING DRIVERS
Andorra’s IDRs reflect the following rating drivers:

The country’s wealth, relatively strong public finances and political stability are balanced by the economy’s small …

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All Andorra news / Business and Economy

S&P affirms Principality of Andorra rating at ‘BBB-/A-3’ Ratings; Outlook Stable

S&P Global Ratings affirmed its ‘BBB-/A-3’ long- and short-term foreign and local currency sovereign credit ratings on the Principality of Andorra. The outlook remains stable.

According to S&P, Andorra’s government continues to pursue its reform agenda, the country’s economy is gradually recovering, government finances remain under control, and the financial sector has stabilized.

As a result, S&P …

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