Moody's turns Tanzania trend to positive

Moody's Investors Service said it changed the government of Tanzania's outlook to positive from stable and affirmed the B2 foreign- and local-currency long-term issuer ratings.

“The outlook change to positive reflects Moody's view that political risks have lessened under the government's new approach to promoting economic development and engagement with the international community. The government's efforts to improve the business and investment climate and attract foreign direct investment (FDI), most notably in the mining and hydrocarbon industries, offers the prospect for higher potential growth and improving international competitiveness,” the agency said in a press release.

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