Treasury Minister welcomes results of annual report

The Island's Treasury Minister has welcomed the results of an annual report into the Isle of Man's financial standing.

The report, carried out by international credit ratings agency, Moody's, rated the Island as Aa3 Stable, putting it on the same rating as the UK.

Among its notes, Moody's pointed out high levels of wealth, economic resilience and 'very strong' public finances, adding it highlighted the Island's 'proactive and effective’ approach in dealing with the challenges of the Covid-19 pandemic and Brexit.

Alf Cannan MHK says the community's response to Coronavirus, which in turn reduced the economic impact of the pandemic during 2020, 'will play a significant role as we look to the future with optimism and a return to growth'.