On June 29, Moody’s assigned an AAA rating to the Asian Infrastructure Investment Bank (AIIB). The decision was accompanied by a comment that defines the AIIB as a solid institution from the standpoint of governance and also other factors, such as liquidity. The Bank, based on Beijing and conceived by China to facilitate infrastructure development across the Eurasian continent, is likely to develop based on similar standards as other international financial institutions, according to Moody’s. The reference is principally to the Asian Development Bank (ADB), based in Manila and led by Japan and the United States, the only large powers that have not joined the AIIB. The AAA rating comes with the news of AIIB’s intention to issue bonds denominated in U.S. dollars by the end of the year. According to a comment published on the Reuters website, the AIIB will issue a few billions of bonds per year in the coming period. This new financial instrument has generally been presented as a positive move. An open question is how successful it will be, given the view in some quarters that the AIIB is risky, as its projects are located in high-risk areas, due to terrorism and other factors of instability in various Asian countries.
June 30, 2017
Economia, English, Notizie