This Readiness Index is based on qualitative research in partnership with our research and academic partners. Our methodology.
Monthly updates of this data will aid emerging economies in determining their readiness for issuing diaspora bond offerings within our focus region of Africa. S&P credit ratings are indicated in RED. The highlighted GREEN text indicates a nation’s readiness.
Amidst a decline in ODA from Western countries, global south countries may need to turn to their overseas diasporas for financial support in sectors like healthcare, agriculture, energy production, infrastructure, and digital transformation. This readiness index can assist a country in evaluating its ability to issue financial instruments, such as bonds to support a country’s economic development.
May Diaspora Bond Readiness Index
| Country | S&P Credit Rating | Outlook | Diaspora Engagement Policy (0-2) | Sovereign Credit Rating (0-2) | Diaspora Remittances (% of GDP) (0-2) | Total Readiness Score (0-6) | Readiness Category |
|---|---|---|---|---|---|---|---|
| Algeria | NR | Not rated | 2 | 0 | 0 | 2 | low |
| Angola | B- | Stable | 0 | 1 | 1 | 2 | low |
| Benin | BB- | Stable | 2 | 1 | 2 | 5 | high |
| Botswana | BBB- | Negative | 2 | 2 | 1 | 5 | high |
| Burkina Faso | CCC+ | Stable | 0 | 1 | 0 | 1 | low |
| Burundi | NR | Not rated | 0 | 0 | 2 | 2 | low |
| Cabo Verde | B+ | Positive | 2 | 1 | 0 | 3 | medium |
| Cameroon | B- | Stable | 1 | 1 | 1 | 3 | medium |
| Central African Republic | NR | Not rated | 1 | 0 | 0 | 1 | low |
| Chad | B- | Stable | 1 | 1 | 2 | 4 | medium |
| Comoros | NR | Not rated | 2 | 0 | 2 | 4 | medium |
| Democratic Republic of the Congo | B- | Stable | 2 | 1 | 1 | 4 | medium |
| Republic of the Congo | CCC+ | Stable | 0 | 1 | 0 | 1 | low |
| Cote d’Ivoire | BB | Stable | 0 | 1 | 2 | 3 | medium |
| Djibouti | NR | Not rated | 1 | 0 | 1 | 2 | low |
| Egypt | B | Stable | 0 | 1 | 2 | 3 | medium |
| Equatorial Guinea | NR | Not rated | 0 | 0 | 2 | 2 | low |
| Eritrea | NR | Not rated | 1 | 0 | 2 | 3 | medium |
| Eswatini | NR | Not rated | 1 | 0 | 2 | 3 | medium |
| Ethiopia | SD | Selective default | 2 | 0 | 2 | 4 | medium |
| Gabon | NR | Not rated | 0 | 0 | 2 | 2 | low |
| Gambia | NR | Not rated | 2 | 0 | 1 | 3 | medium |
| Ghana | B- | Stable | 2 | 1 | 2 | 5 | high |
| Guinea | B+ | Stable | 1 | 1 | 0 | 2 | low |
| Guinea-Bissau | NR | Not rated | 0 | 0 | 0 | 0 | low |
| Kenya | B | Stable | 2 | 1 | 1 | 4 | medium |
| Lesotho | NR | Not rated | 0 | 0 | 2 | 2 | low |
| Liberia | NR | Not rated | 2 | 0 | 2 | 4 | medium |
| Libya | NR | Not rated | 2 | 0 | 1 | 3 | medium |
| Madagascar | B- | Stable | 2 | 1 | 2 | 5 | high |
| Malawi | NR | Not rated | 1 | 0 | 2 | 3 | medium |
| Mali | NR | Not rated | 2 | 0 | 0 | 2 | low |
| Mauritania | NR | Not rated | 1 | 0 | 2 | 3 | medium |
| Mauritius | NR | Withdrawn | 1 | 0 | 2 | 3 | medium |
| Morocco | BBB- | Stable | 2 | 2 | 1 | 5 | high |
| Mozambique | CCC+ | Stable | 1 | 1 | 1 | 3 | medium |
| Namibia | NR | Not rated | 2 | 0 | 0 | 2 | low |
| Niger | NR | Not rated | 2 | 0 | 2 | 4 | medium |
| Nigeria | B | Stable | 2 | 1 | 2 | 5 | high |
| Rwanda | B+ | Stable | 2 | 1 | 2 | 5 | high |
| Sao Tome and Principe | NR | Not rated | 0 | 0 | 0 | 0 | low |
| Senegal | CCC+ | CreditWatch developing | 2 | 1 | 0 | 3 | medium |
| Seychelles | NR | Not rated by S&P | 2 | 0 | 1 | 3 | medium |
| Sierra Leone | NR | Not rated | 0 | 0 | 0 | 0 | low |
| Somalia | NR | Not rated | 0 | 0 | 2 | 2 | low |
| South Africa | BB | Positive | 2 | 1 | 2 | 5 | high |
| South Sudan | NR | Not rated | 1 | 0 | 0 | 1 | low |
| Sudan | NR | Not rated | 0 | 0 | 2 | 2 | low |
| Tanzania | NR | Not rated | 1 | 0 | 2 | 3 | medium |
| Togo | B+ | Stable | 1 | 1 | 0 | 2 | low |
| Tunisia | NR | Not rated | 1 | 0 | 0 | 1 | low |
| Uganda | B- | Stable | 0 | 1 | 2 | 3 | medium |
| Zambia | CCC+ | Stable | 1 | 1 | 2 | 4 | medium |
| Zimbabwe | NR | Not rated | 0 | 0 | 2 | 2 | low |