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Governance: Chad gets its first credit rating from S&P

31/10/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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Chad received an inaugural grade of “B/B” from the Standard & Poor's (S&P) rating agency with a stable outlook. This marks a significant turning point in the country's economic history.

La Rating obtained by the Republic of Chad is the highest by the countries of the CEMAC zone. This testifies to the reform efforts undertaken by Chad to stabilize and diversify its economy. The rating agency indicates that this rating reflects mainly Chad's solid economic growth prospects, supported by a dynamic oil sector and reforms aimed at diversifying the economy, especially in agriculture and livestock. S&P's rating is also the result of relationships of trust established with multilateral and bilateral partners, as well as the macroeconomic stability that Chad's membership in the CEMAC zone confers. Noted that this inaugural rating will contribute to the mobilization of the resources necessary for the deployment of the future National Development Plan (PND), which will include an ambition to diversify the economy, modernize infrastructure and strengthen human capital

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