Written by Wesley Cate on April 22, 2015
Fitch Ratings upgraded Rwanda to 'B+' from a 'B' rating it had given the East African country earlier in 2015, according to CNBC Africa.
According to Fitch, there were two reasons for the upgrade. The first is Rwanda's track record of "prudent and coherent fiscal and monetary policy." The second is the sustained economic growth the country has experienced over the last several years. According to the UN Human Development Report, Rwanda recorded the fastest economic growth in Africa between 2000 and 2013 and is expected to maintain high growth rates. According to Fitch, factors driving the growth include stronger regional integration as well as gains in agricutlure, mining, tourism and services.
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