The Finance Minister, Jordi Cinca, presented the Budget Bill for the year 2019 this Monday. As already moved forward in the press conference after Wednesday’s Council of Ministers, this budget project is the first that fully complies with the objectives established in the Law on the Sustainability of Public Finances and Budgetary and …More
The Council of Ministers today approved the award of the partial enlargement of the CG6 in particular from the section from PK 0 + 040 to PK 0 + 500, (roundabout from Aixovall to the end of the initial straight line of the CG6).
The construction work will be carried out by the company Cevalls, SAU …More
The Council of Ministers, on the proposal of the head of Culture, Youth and Sports, Olga Gelabert, has approved the granting of subsidies (aimed at implementing measures of integrated conservation, restoration, maintenance and improvement of the cultural heritage of 2018) to two restoration projects in Cal Gastó, in El Tarter, for an amount …More
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 private …More
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 …More
Throughout the autumn, the Andorran parliament will continue to consider draft laws related to the regulation of the financial and banking activities of the principality. The purpose of the laws is to fulfill the requirements arising from the Monetary Agreement signed in 2010 between Andorra and the European Union.
These requirements should be explained to banks …More
Fitch Ratings has affirmed Andorra’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’. The Outlook is Stable.
A full list of rating actions is at the end of this rating action commentary.
Under EU credit rating agency (CRA) regulation, the publication of sovereign reviews is subject to restrictions and must take place according to a published schedule, …More
On July 20, 2018, S&P Global Ratings affirmed its ‘BBB/A-2’ long- and short-term foreign and local currency sovereign credit ratings on Andorra. The outlook is stable.
The stable outlook balances our expectation of robust economic activity and sound fiscal performance against risks related to the large size of Andorra’s financial sector.
S&P could raise the ratings if
Andorra improves its …More
The Council of Ministers of Andorra approved a provision on payment services and electronic money. The document implies the introduction of European rules and standards applicable to payment service providers. First of all, we are talking about cross-border payments between Andorra and the member states of the European Union, as well as technical requirements for …More
President of the Generalitat of Catalonia, Quim Torra, spoke at the 29th meeting of the Pyrenees businessmen, which ended today in la Seu d’Urgell (Spain). The event brought together Catalan businessmen, who discussed “sustainable growth of the region’s economy.”
Quim Torra criticized the Spanish government, who have”disconnected” from the problems associated with the sovereignty of Catalonia. …More