QUARTERLY REVIEW: ETHIOPIA AND PAKISTAN RISK RATINGS IMPROVE, WHILE AFRICAN MINING OUTLOOK DECLINES

   Tue, 01 October 2024

IMF credit support programmes committed in the third quarter have modestly improved the country risk ratings for Ethiopia and Pakistan heading into the final quarter of 2024. The Fund’s ongoing backing bodes well for remaining debt vulnerabilities in Emerging and Frontier Markets into next year. However, several African producers of critical minerals, including Senegal, Guinea, Liberia, and Gabon, have seen a deterioration in their country risk ratings based on political uncertainty and emerging contract risks. Notably, Libya’s outlook also worsened over the past quarter due to oil supply disruptions and continued delays to political agreements.

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