S&P: Benin view positive

Standard & Poor said it affirmed the B long-term and short-term sovereign credit ratings on the Republic of Benin and revised its outlook to positive from stable due to ongoing economic improvements and continued prudent fiscal policies.

S&P said the positive outlook reflects the government's economic achievements in less than two years in office, notably a rebound in economic growth and the restoration of a sustainable budget deficit.

Ratings are supported by the country's track record of strong donor support, which is expected to continue, and by slashed external debt burden, the agency said.

Ratings are constrained by the country's low level of economic development, S&P said, and by a lack of fiscal flexibility.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.