Fitch Sees Romania Vulnerable To Inflation Shocks

Jamaica is seen as the most vulnerable emerging market, followed by Ukraine, Kazakhstan and Bulgaria, Fitch said in its semi-annual Sovereign Review.

The ratings agency said that the economic and credit outlook for emerging market economies is deteriorating, driven primarily by rapidly rising inflation

"It is the surge in inflation, rather than the direct consequences of the global credit crunch, that is the principal threat to macroeconomic and financial stability in many emerging markets," said David Riley, Group Managing Director in Fitch’s Sovereigns team. "

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In January, Fitch revised Romania’s outlook to stable to negative, mainly due to the rise of the current account deficit.