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Ratings boost: Fitch Ratings revised its outlook on Oman’s rating to positive from stable on 11 April, while affirming it at BB. S&P Global Ratings had announced the same move on 31 March. Fitch said the change reflected the improvements made in the government debt to gross domestic product ratio, with high oil prices and spending restraint reducing the external liquidity risk. Debt/GDP fell from 61% at end-2021 to 40% a year later and Fitch said it should reach 37% by end-2024.
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