Moody’s give Malta positive governance rating

Malta has been awarded a positive governance rating by agency Moody’s.

According to the credit rating agency, the country “benefits from a strong institutional environment", so much so that the environmental and social risks to which the country is exposed are "balanced by a very strong governance profile".

Government said in a statement the positive rating stems from Malta’s “track record of strong economic growth.”

The “elevated wealth levels” of families in Malta also makes the country more resilient to economic shocks.

Having a moderate national debt burden and sufficient liquidity, according to Moody’s, help government in meeting its financial needs.

“Malta's economy will be able to recover without significant lasting scars and its public finances will be brought under control after the pandemic," the rating agency said.

The report also expresses confidence that government will continue to make the necessary changes to further strengthen the country's institutions.  The success of these reforms according to the report "would also be supportive of an upgrade of the rating."

The report notes how Malta has among the highest rate of head-to-head vaccinations among European Union countries, more than double the European average.

“Government welcomes the positive analysis of this agency's experts while insisting that work will continue in the coming months to further strengthen our country's economic resilience while further improving our country's institutions,” government said.