The sovereign has recorded one of the largest improvements of any sub-Saharan borrower this year in Euromoney’s country risk survey – the recovering oil market, contract certainty and plans to expand the extractive industry explain why.

Risk experts offer a lukewarm assessment of the sovereign borrower after the recent legislative elections, noting the improved economic and political situation, but also the formidable challenges to reforming the economy.

Euromoney’s survey highlights one LatAm borrower on an improving risk trend with attractive credentials, as long as it can ride out the political tensions under its new leadership.

The country is enjoying better economic fortunes, but a persistent fiscal deficit, large debt burden and political risks cannot be ignored.