Moody’s, a big rating company, made Niger’s rating worse because the government hasn’t been able to pay its debts.
The debts have been piling up, and last November, Niger couldn’t pay back over 187 billion CFA francs.
This is a problem because if Niger keeps missing payments, it could hurt private businesses that lent money to the country.
What’s more, Niger, along with Mali and Burkina Faso, left a group called ECOWAS, which has been telling them to return to democracy.
This makes it uncertain when the sanctions on Niger might end. But, there’s a small silver lining: Moody’s thinks Niger might make more money from foreign trade next year.
So, while there’s some hope for Niger’s finances, it’s still facing a tough road ahead.
This information comes from Reuters.
https://www.reuters.com/world/africa/moodys-pushes-nigers-rating-deeper-into-junk-2024-02-09/