Sun, 11 Feb 2018 09:06:20 +0000 AN international credit rating agency, Moody’s, recently upgraded the rating outlook for Zambia from negative to stable. According to a rating action statement issued in London by Moody’s Investors Service, the stable outlook reflected the Zambian government’s reduction in liquidity pressures and a slowdown in debt accumulation. The Moody’s rating committee during its discussion indicated that Zambia’s fiscal or financial strength, including its debt profile, had materially decreased. Moody’s indicated that the affirmed B3 long-term issuer rating balanced a strong growth potential boosted by ample natural resources. And commenting on the development, Minister of Finance Felix Mutati said that the improved outlook was not only an important indicator of the international community’s discernment of Zambia’s political, social and economic stability but an endorsement of the country’s consistent and market-friendly development policies. He said the rating upgrade was a confirmation that Zambia’s image was respected, adding that the private sector […]
