S&P changes Rwanda to positive

S&P said it revised its outlook on Rwanda to positive from stable and affirmed its B/B long- and short-term foreign and local currency sovereign credit ratings.

“The positive outlook reflects a view that Rwanda's external adjustment policies could reduce external financing needs and shore up foreign exchange reserves beyond our current expectations,” the agency said in a news release.

“This may happen if government policies deliver higher exports of nontraditional goods, including gemstones, textiles and agro-processed products, while reducing imports through increased domestic production of goods such as cement.

“We could also take a positive action if we assess that economic performance is materially stronger than our projections and compared with peers.”

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