Ver Angola

Economy

Moody's Improves Rating Outlook and Executive Reaffirms Commitment to Reform

The Ministry of Finance (Minfin) this Tuesday reaffirmed its commitment to macroeconomic stability and ongoing structural reforms, following the review of the country's rating, highlighting the improvement in the risk outlook of the Moody’s agency.

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Angola recently hosted the missions of the main rating agencies (Standard and Poor's, Fitch and Moody's), within the scope of the regular annual assessment of the country's sovereign risk, with Moody's improving the rating of the credit rating from Caa1 to B3, maintaining a stable perspective.

Standard & Poor's maintained the credit rating at CCC+ with a stable outlook and Fitch maintained the credit rating at CCC, also with a stable outlook.

In a press release, Minfin highlights the improvement in the sovereign credit profile of the Government of Angola and the strengthening of the institutions' governance.

The agencies "also see the continuation of efforts to maintain exchange stability and the country's external position (International Reserves), as well as the continued engagement of the Angolan Executive in proceeding with fiscal consolidation, structural improvement in debt management and public finances will continue to exert a positive impact on improving the sovereign risk rating of the Government of Angola", reads the statement.

The Government concludes, stressing that the executive "reaffirms its commitment to macroeconomic stability and to the structural reforms underway, aiming at the resumption of growth of the Angolan economy on a broader and more inclusive basis, the creation of jobs and the well-being of the country. general population".

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