On March 27, 2015, Standard & Poor’s Ratings Services affirmed its long- and short-term foreign and local currency sovereign credit ratings on the Republic of Congo at ‘B/B’. The outlook is stable.
OVERVIEW
- The ratings on the Republic of Congo are constrained by low institutional effectiveness and income levels, presidential succession risk, high fiscal, external and economic dependence on oil, and limited monetary flexibility.
- The ratings are supported by low levels of government debt since recent write-offs.
- We are affirming the long- and short-term ratings at ‘B’.
- The stable outlook reflects our expectation that growth in Congo’s real GDP per capita will remain positive, that the government’s net debt levels will remain low compared with that of peers, and that the fiscal and current account deficits will not widen substantially beyond our expectations.
