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Government welcomes Standard and Poor’s affirmation of stable debt outlook

# Government has acknowledged Standard and Poor’s decision to affirm the country’s long-term foreign and local currency debt ratings at ‘BB-minus’ and ‘BB’, respectively. The agency attributes the stable outlook to a credible central bank, a flexible exchange rate, and an actively traded currency. Positive indicators include increased private-sector investment in power generation and renewables. The government has announced its commitment to boosting gross domestic product growth by improving electricity provision, optimising logistics and enhancing infrastructure delivery over the next three years.