strong economic growth and political climate “pacified” it is for these two reasons at least the Fitch rating agency is not returned Friday to the “B +” which she had graced the Ivory Coast in December 2015 , a notch above the “B” that prevailed until then. The outlook is stable.
The note attributed to long-term bond issues foreign and local currency of the Ivory Coast remains in the speculative category, considered risky by investors, because of “fragile structural fundamentals, such as GDP per capita,” and “financial indicators and human development” still well below the average of countries in the same category.
But this does not affect a greater than 8.5% growth for four years and moderate inflation, justified the Anglo-American rating agency in a statement Friday, June 10. It expects similar levels in the medium term despite a gradual erosion of a “catch-effect” of the Ivorian economy and its exposure to “weather shocks.”
And especially because a level of public and private investment is expected in growth, particularly in the light of the $ 15.4 billion achieved by the country from donors in May in Paris.
Fire green also politically where the agency considers the peaceful climate after the last presidential election. In this regard, Fitch “hope that the parliamentary elections scheduled for the second half 2016 will be a test for the Ivorian political stability, and would not derail the political normalization underway. “
If the Ivorian governance is still considered incomplete,” despite several years of steady improvement, “the public deficit (2.9% of GDP at end 2015) and debt (41.3% of GDP) have a neutral impact on the rating. By 2018, the public budget deficit is expected between 3 and 3.5% of GDP, while the debt is expected to gradually fall below 40% of GDP, according to figures Fitch
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