International Financial Rating Agency “Standard Poor’s: Benin obtains a “B +” rating with a “Stable” outlook

In a statement released on Tuesday 27 avril 2021 by the Ministry of Economy and Finance, the international financial rating agency "Standard & Poor’s ”maintained the“ B + ”rating awarded to Benin in June and October 2020, “With a stable outlook”. A score obtained by Benin despite the situation linked to the Covid-19 pandemic.

According to the press release, this decision once again attests to the resilience of the country's economic fundamentals, "Which led the agency to maintain Benin's rating in June and October 2020, despite the COVID-19 crisis ”.

otherwise, he clarified that Standard & Poor's welcomes the ambitious reforms implemented as part of the government's agenda, and the quality of the management of the COVID-19 crisis by the authorities. “Benin has thus preserved the dynamism of its economy, showing a GDP growth rate of 3,8% in 2020, significantly higher than the average observed on the continent ”, underlines the press release while adding that "Benin remains among the African countries benefiting from the best credit rating, while several African countries have seen their rating downgraded since the start of the health crisis ".

According to the same source, the agency "Standard & Poor’s ”also anticipates a sharp upturn in economic activity as soon as 2021 and the pursuit of structural reforms, "Following the re-election of Patrice Talon as President of Benin. The agency therefore forecasts a rebound in real GDP growth of 5,0% in 2021, who should reach 6,5% on average over the period 2022-2024 ».

« “Standard & Poor's ”finally recalls the government's decision not to participate in the debt service suspension initiative put in place by the G20, favorably received by investors from Benin, as illustrated by the success of the external financing operations undertaken in recent months ”, concludes the press release.

Patrice ADJAHO