Country Report Benin April 2008

Economic policy: S&P maintains ratings and upgrades outlook

The positive sentiment about Benin's economic outlook was further reinforced when Standard & Poor's Sovereign Ratings Service confirmed Benin's B-ratings for both long-term and short-term credit in mid-December 2007. According to Standard & Poor's, "the positive outlook reflects the government's economic achievements in less than two years in office, notably a rebound in economic growth and the restoration of a sustainable budget deficit". Simultaneously, Standard & Poor's changed its outlook on the country from stable to positive, based on the government's "prudent" fiscal performance and marked improvements in the cotton sector and Benin's relations with Nigeria.

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