Fitch changes view on Ivory Coast to positive

Fitch Ratings said it revised the outlook on Ivory Coast’s long-term foreign-currency issuer default rating to positive from stable and affirmed the IDR at B+.

“Cote d’Ivoire’s economy continues to show resilience and stability despite the worsening external backdrop. The government’s continued adherence to fiscal prudence sets Cote d’Ivoire on track for general government (GG) debt to stabilize well below the current B median over the medium term. The government has achieved significant progress on strengthening public finance management (PFM) and ongoing reforms of the business and regulatory improvement have translated into a marked improvement in Cote d’Ivoire’s ranking on the World Bank governance indicators,” said Fitch in a press release.

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