High energy prices will pressure oil-importing countries: Fitch

High energy prices will pressure oil-importing countries: Fitch

ECONOMYNEXT – Frontier market economies that are sizeable net importers of fossil fuel, like Sri Lanka, will see increasing pressure on their balance of payments due to the rise in energy prices, Fitch Ratings has said. Countries that are net energy exporters are set to benefit in relative terms by contrast. “Higher energy prices are also liable to push up inflation. Prior to the energy price shock, most frontier markets had inflation under cont…