Moody’s Upgrades Paraguay’s Rating Amid “Robust” Economic Growth
“The investment grade is a crucial step for the sustainable development of Paraguay,” Peña said from Paris
The credit rating agency Moody’s has upgraded Paraguay’s rating to “investment grade” due to the country’s strong economic growth. This new status will make it easier for the Paraguayan government and private sector to access credit.
Moody’s stated, “The upgrade of Paraguay’s rating reflects robust and sustained economic growth and our expectation of increased economic resilience to shocks.”
Paraguayan President Santiago Peña believes this achievement will enhance the country’s financing conditions and attract more investment. He emphasized, “The investment grade is a crucial step for the sustainable development of Paraguay, positioning our economy on the global stage.”
Since implementing economic reforms in the 1990s, Paraguay has made significant progress, with its economy growing by 4.7% in 2023 and a projected expansion of 3.8% in 2024. This upgrade comes after positive ratings from other agencies like Fitch Ratings and Standard & Poor’s.
Credit rating agencies play a crucial role in assessing a country’s financial health, guiding investor decisions. Chile leads in Latin America with an A2 grade, while Argentina lags with a CCC.
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