Moody’s Downgrades Kenya’s Sovereign Rating Amid Fiscal Challenges

Moody’s Downgrades Kenya’s Sovereign Rating Amid Fiscal Challenges

Moody's downgraded Kenya's sovereign rating to "Caa1" from "B3" on Monday, citing reduced ability to manage its debt burden through fiscal consolidation. Reuters says, This downgrade affects the country's local- and foreign-currency long-term issuer ratings and foreign-currency senior unsecured debt ratings. In June, Kenyan President William Ruto withdrew planned tax hikes following mass protests that resulted in at least 24 deaths.

July 9, 2024 8

Namibia

Namibia’s Rating Upgraded: Importance for the Country and Its People

By Josef Kefas Sheehama Periodically, the Namibian government establishes policies to address the unstable state of the economy. Encouraging economic growth requires policymakers to put in place measures that support investment, innovation, and entrepreneurship. Therefore, the government can assist in fostering an environment that is conducive to business and promotes employment and economic growth. As an Independent Economic and Business Researcher, I therefore wholeheartedly commend the […]

June 6, 2024 18

Business / Economics

Moody’s downgrades Israel’s debt rating

Moody's has downgraded Israel's debt rating from A1 to A2 due to the economic impact of its conflict with Hamas. The credit rating business listed the increased political risk, weakened institutions, and fiscal strain as key factors. Despite remaining investment-grade, the downgrade will raise borrowing costs for Israel. Bank of Israel Governor Amir Yaron meanwhile says the country's economy is strong and will recover from the impact of the war.

February 12, 2024 4

World

Beijing hits back at Moody’s gloomier outlook

Beijing says it was "unwarranted and flawed" for the credit rating agency Moody's to give a gloomier outlook on China. Here's Andrew Wood in Hong Kong.

December 6, 2023 14