International rating agency Fitch Ratings has affirmed the long-term issuer default ratings (IDRs) in foreign and national currencies of the State Bank for Foreign Economic Affairs of Turkmenistan at 'BB-' with a stable outlook, the agency said in a statement.

The bank's rating is equal to Turkmenistan's sovereign rating. Fitch's high rating confirms Turkmenistan's strong macroeconomic indicators. The country's strong sovereign balance sheet and minimal public debt guarantee the bank's stable and reliable operations.

The bank finances strategically important investment projects in key economic sectors, including the oil and gas and chemical industries, transportation, agriculture, and healthcare. The bank also acts as the government's agent for attracting external borrowing.