Fitch revises Paraguay to positive

Fitch Ratings said it affirmed Paraguay's long-term foreign and local-currency issuer default ratings at BB and revised the outlook to positive from stable.

Fitch said the positive outlook reflects Paraguay’s demonstrated resilience to external shocks, favorable growth performance combined with evidence of economic diversification, strengthening external buffers, and continued commitment to macroeconomic policy discipline.

Low fiscal deficits should keep general government debt around 20% of GDP, the lowest in the BB category, the agency noted.

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