Russia, China Set Up Joint Rating Agency
Russian Finance Minister Anton Siluanov has announced Moscow and Beijing are to jointly establish a rating agency.
Siluanov explained the new body will first be used for assessing bilateral Russian-Chinese projects, but could later provide services to third countries.
"Many countries would like a higher impartiality in the assessments of rating agencies. In this respect, we have agreed on further cooperation. A Russian-Chinese rating agency will be created which will use the same tools [and] criteria to evaluate investment projects of countries and regions that are used by existing rating agencies," the Minister was quoted by RIA Novosti as saying.
A "number of Asian countries" could be attracted to the project which could ultimately offer them its services, he added.
In his words, the agency will be of "exclusively economic" essence and will be politically independent.
Russia has often criticized international rating agencies such as Fitch, Moody's and Standard&Poor's, which Moscow believes serve US interests around the world.
President Vladimir Putin has personally shed light on the Kremlin's ambitions to establish their "Russian" version.
- » Bulgarian Hotel, Restaurant Owners Urge Eased Visa Regime for Russian Tourists
- » Sofia Airport to Become Accessible by Underground from April 2
- » Bulgaria’s Finance Minister Expects New Governor of Bulgarian National Bank by end-April
- » Bulgarian Project Company for Oil Pipeline Burgas-Alexandroupolis Welcomes New CEO
- » Bulgaria’s Gross External Debt at EUR 39 B in end-January
- » Bulgaria Repays EUR 1.5 B Bridge Loan