Moody’s has upgraded its outlook for sub-Saharan African countries to positive, citing economic reforms, strong commodity prices, and improved access to financing for governments across the region. The ratings agency expects the region’s economies to grow by a weighted average of 4.3% in both 2026 and 2027. It also projects that government borrowing needs will fall, with financing requirements declining from 12.3% of GDP in 2025 to 11.2% in 2027. Moody’s also expects total government debt to stabilize at 56.6% of GDP in 2027, down from 62.4% in 2025, with Zambia and Ethiopia recording the largest declines. However, Moody’s warned that high debt-service costs, limited government revenues, climate risks, and security threats remain vulnerabilities.