Rwanda’s global credit rating hits positive tag

Fitch Ratings has revised its sovereign credit outlook for Rwanda to positive from stable.

Fitch Ratings has revised its sovereign credit outlook for Rwanda to positive from stable.

The international credit rating agency found two indications of an interesting economic growth of the country, thus confirming that it stands at B.

These indicators are an inclusive economic growth driven by credible economic policy management, and an “economic development that has been supported by large investments attracted by the third best business climate in Africa.”

Speaking to The New Times, yesterday, Amb. Claver Gatete, the minister for finance and economic planning, said: “The country has been on stable rankings since last year, but our economic reforms are creating hope of better future.”

Amb. Gatete said he was optmistic of further progress of the country’s economic performance, adding that the roadmap toward achieving various aspirations such as the Vision 2020 are clear and are in themselves “an indication that we know where we want to be.”

The meaning of the rating, the minister said, is that investors will understand that they will have no risks if they bring their investment to Rwanda.

He said the rating indicates that the country has also been making good use of its resources, from both inside and outside the country, among others.

Fitch predicts a sustained growth in Rwanda, standing at 7.5 per cent per annum, up to 2015, thanks to high investment, expansion of the private sector as well as regional integration efforts.

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