Moody's praises Estonia in crisis

Nov 17, 2009
TBT Staff

TALLINN - Moody's Ratings Agency, one of the largest in the world, has praised Estonia's reaction to the financial crisis.

Kenneth Orchid, deputy president of the agency, said the country had built up reserves during its growth years that will now allow the country to come out of the crisis in a much better position than its European neighbors.

"Moody's believes that the majority of the effects of the global economic crisis on Estonia are of passing nature and the situation will improve over a medium-long period,” Orchid was quoted by bbn as saying.

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