Due to the ‘rising economic growth by way of investment in sugar and non-traditional agricultural products”, Belize’s growth has been upgraded from a stable outlook to a positive one, by the Standard & Poor’s Rating Service.
The release issued by the company states that the positive outlook reflects S&P’s view that new foreign direct investment in Belize’s export sector is raising the country’s economic growth prospects and that this growth will support Belize’s external liquidity over 2014-2017. Additionally says the release, the government is actively strategizing the payment of external obligations related to the nationalization of two utilities by using government deposits financed by the Petrocaribe initiative and reopening its 2038 bond (up to US$75 Million).
Belize’s sovereign creditworthiness was assessed and scored on five key rating factors from Economic structure and growth prospects to Monetary flexibility on a scale ranging from 1- the strongest to 6- the weakest. S&B’s rating affirmed that Belize has moved up from a “B-“score to a “B” sovereign credit rating.
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