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Financial rating: Benin maintains its “B+” rating despite economic challenges

15/09/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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In a press release published on September 8, the Fitch Ratings rating agency announced the maintenance of the “B+” rating with stable prospects, attributed to Benin.

The American rating agency highlighted favorable growth prospects for Benin, despite the external shocks observed this year. According to the rating agency, “Benin's “B+” rating reflects a strong growth trend, a recent track record of economic reforms, prudent fiscal policies and proactive debt management. Economic growth is projected at 6%, driven by the expected performance of the cotton sector, a reduction in inflationary pressures and a stabilization of economic reforms undertaken in Nigeria over the next year

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