Standard & amp.; Poor’s has revised upwards the sovereign rating of Rwanda “B” to “B +” with a stable outlook. Improved due to the resumption of the country’s economic growth and the availability of external financing
The Standard & amp rating agency.; Poor’s (S & amp; P) said in a statement issued on March 13, pointing out a notch long-term rating of Rwanda “B” to “B +” for its programs in foreign and local currencies. This improvement is with a stable outlook. The short-term rating of the country is maintained at “B”
Following this increase, the notation of Rwanda is at the same level as those assigned by Standard & amp.; Poor’s to Angola, Gabon, Kenya, Senegal and Zambia. It is superior to those of Congo – Brazzaville, Uganda and Cameroon (rated “B”)
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Stability
S & amp; P explained his decision by the economic recovery countries, which recorded a growth of 7% in 2014, against 4.6% the previous year, according to figures from Claver Gatete, the Rwandan Minister of Finance, beating the rather conservative predictions published by the World Bank in August last.
The rating agency expects the GDP of Rwanda is expected to grow 7% per year on average over the period 2015-2018. A performance slightly down from the 8.2% achieved on average between 2006 and 2012, according to estimates by Reuters , but still higher than the growth prospects for sub-Saharan Africa over the period.
The rating agency also highlights the more stable support of donors. International aid suspended in late 2012, has since resumed and is now more focused, directed to specific projects and sectors, and therefore less dependent on relationships between multilateral institutions and the central government, said Standard & amp; Poor’s. “The funding from donors resumed and flows have been stable for two years,” the agency said in a statement
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