Travel Directory
Asia Travel
Europe Travel
Africa Travel
Oceania Travel
South America
North America
Central America
Caribbean Travel
 
Travel to Asia Travel to Oceania travel africa travel europe Caribbean travel Travel to North America Travel to South America  

Republic of Gabon rated

Touristclick Gabon Travel News
 

Republic of Gabon rated

by CNNMoney.com

Standard & Poor's (NYSE:MHP) Rating Services assigned its 'BB-' long-term and 'B' short-term sovereign credit ratings to the Republic of Gabon, which became the 117th sovereign government rated by S&P worldwide.

The outlook is stable.

At the same time, a transfer and convertibility assessment of 'BBB-' was assigned, in light of Gabon's membership of the Economic and Monetary Community of Central Africa (CEMAC).

Gabon's ratings are constrained by the country's narrow economic base, with oil accounting for almost half of GDP, combined with high income inequalities, S&P said.

The ratings are also constrained by the government's history of pursuing pro-cyclical fiscal policies, and its poor track record in meeting its past debt obligations. Finally, uncertainty surrounding the succession of the longstanding president weighs on the ratings, S&P added.

By contrast, the agency said the ratings are supported by Gabon's strong balance sheet position, which is boosted by high oil prices.

By year-end 2007, general government debt to GDP is expected to be 28 pct, with a fiscal surplus of 10 pct of GDP. Gabon's relative wealth and good economic prospects also support the ratings.

'The ratings are also supported by the government's commitment over the past four years to economic and financial reform, as shown by progress on privatization, fiscal consolidation, and better debt management practices,' said S&P's credit analyst Sarah N'Sonde.

Copyright Thomson Financial News Limited 2007. All rights reserved.

The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.


 
 
 
 
 
TouristClick Travel Guides © Copyright TouristClick Travel Directory, Inc., 2004-2007. All rights reserved.
Touristclick Privacy
 

Gabon Travel news

here you can find an information from a local people, get advice from a local traveller, booking direct with a local hotel agent