Moody’s turns Congo view to positive

Moody’s Investors Service said it changed the outlook to positive from stable and affirmed the Caa1 long-term issuer ratings of the government of the Democratic Republic of the Congo.

“The positive outlook recognizes the DRC's robust economic prospects driven by the mining sector and potential for improved economic resiliency from the implementation of structural reforms under the current IMF program.

“The positive outlook also reflects the increase in official foreign-currency reserves which are set to continue to accrue over the coming years, may reduce the exposure to downturns in commodity prices and the severe episodes of macroeconomic volatility associated with them, Moody’s said in a press release.

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