Fitch changed Romania's rating perspective from stable to negative on Thursday, given the high current account deficit reported by the country. The same measure was applied to countries like Bulgaria, Estonia and Latvia. Also on Thursday, the World Bank warned that countries with high current account deficits are highly vulnerable to international fluctuations.
World Bank officials argue that most probably Romania and Bulgaria's current account deficit will not decrease very soon. Fitch agency argues that in 2007 Romania registered a current account deficit of 14% while Latvia registered a 25% deficit, closely followed by Bulgaria with 19.5% and Estonia with 16%.
