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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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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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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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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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Monetary agreement between Andorra and the European Union initiated the application of new rules of interaction with the European Central Bank

The Andorran Council of Ministers approved the new simplified rules for the provision of statistical data on banking and financial transactions of legal entities of the principality to the European Central Bank.

The Bank is the supervising authority of the Andorran financial system. The requirement was put forward within the framework of the Monetary agreement between …

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Business and Economy

Fitch affirms 3 Andorran banks

Fitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDR) of Credit Andorra, Andorra Banc Agricol Reig (Andbank) and Mora Banc Grup, SA (MoraBanc) at ‘BBB’, ‘BBB’ and ‘BBB-‘ respectively; the Outlooks are Stable on all of the IDRs. A full list of rating actions can be found at the end of this rating action …

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All news / Politics

An EU deal with Andorra, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there, was endorsed by Parliament in a vote on Wednesday

An EU deal with Andorra, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there, was endorsed by Parliament in a vote on Wednesday. Under the deal, the EU and Andorra will automatically exchange information on the bank accounts of each other’s residents, starting in 2018 …

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