Kosova has reached a historic moment by receiving its first sovereign credit rating. Fitch Ratings, a global rating agency, has given Kosova a BB- rating, indicating a stable perspective and positioning the country favorably among the countries of the Western Balkans.
This ceremony is organized by the Government of the Republic of Kosova in cooperation with USAID, this assesment was said to serve as Kosova’s passport in attracting foreign investments.
The sovereign credit rating is a key measure of a country’s creditworthiness and capacity to meet financial obligations. Until now, Kosova was the only European country without a sovereign credit rating. This shortage has limited its access to global financial markets, hindered foreign investment flows and increased the cost of capital. The newly obtained rating brings numerous advantages, including lowering the cost of borrowing, increased opportunities for attracting foreign investment, increased access to global capital markets, a boost in international recognition and accelerated structural economic reforms.
On this occasion, the Prime Minister of the Republic of Kosova, Albin Kurti said that this assessment will have a positive impact on the country.
The Director of the USAID Mission in Kosova, Eileen Devitt said that this is the first internationally valid assesment for Kosova.
The event is the culmination of long-term efforts by Kosovar institutions in partnership with USAID to strengthen the economy and ensure further growth. In order to receive the assessment issued on April 19, 2024, USAID, through the Investment Promotion and Access to Finance activity, entered into a partnership with the Ministry of Finance, Labor and Transfers (MFLT) and has collaborated extensively with Fitch Ratings to initiate and oversee the relevant rating processes.
