India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S and P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S and P Sovereign and International Public Finance Ratings director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. “The country has built up buffers against cyclical difficulties like those, which we are experiencing right now,” Wood said.
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