Fitch Ratings revises Bangladesh economic outlook to ‘Negative’ citing rising risks linked to Middle East conflict

Fitch Ratings downgraded Bangladesh’s economic outlook to ‘Negative’ citing rising risks linked to the Middle East conflict and slow progress in reforms, affirming the country’s Long-Term Issuer Default Rating at ‘B+’. The country’s heavy reliance on Middle Eastern remittances and energy imports makes it vulnerable to regional instability, and concerns remain regarding limited reforms and a potentially weakened IMF program.