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The Government of Benin’s long-term issuer and senior unsecured debt ratings have been improved to B1 from B2 by Moody’s Investors Service (“Moody’s”). The prognosis has been altered from positive to steady.
Despite the deterioration of several fiscal indices due to the epidemic, the country has a great track record of fiscal consolidation and debt restructuring, backed by strong public finance management.
The economy is becoming more resilient, with strong growth prospects backed up by ongoing structural changes.