Fitch Ratings, an international credit rating agency, has upgraded Ecuador's sovereign debt rating from CCC+ to B-, indicating improved financial stability for the nation. This decision, announced on February 25, reflects positive developments in the country's financial management and its successful return to international markets through effective liability management operations conducted recently. The Ministry of Economy and Finance emphasized the reduction in financing needs as a key factor in this upgrade.

The rating agency noted that Ecuador's economic stability is bolstered by a strong recovery in domestic demand and record levels of non-oil exports. This improvement in economic conditions supports the rationale behind the enhanced rating, as it implies a reduced risk for investors. The Ministry's statement pointed out that these changes are pivotal for attracting more international investment, which could further solidify economic growth and enhance job creation in the country.

Economy and Finance Minister Sariha Moya expressed optimism about the upgrade, stating that it boosts investor confidence in Ecuador's economic prospects. The acknowledgment from Fitch Ratings is seen as a crucial step toward stabilizing and boosting the nation's economy, which has faced numerous challenges in recent years. As international confidence grows, the government aims to capitalize on this momentum to foster sustainable development across various sectors.