Interim Prime Minister, Frank Bainimarama has welcomed the announcement by the International Ratings Agency, Standard and Poor that Fiji has lifted its outlook from negative to stable.

Responding to the latest ratings, Commodore Bainimarama said this shows the Interim Government is moving in the right direction.

The latest ratings indicates that Fiji with a long term foreign currency rating of B and a long term local currency rating of B plus, is well ahead of many of its Pacific Island neighbours and on par with Caribbean nations with tourism based economies.

Meanwhile standard and poor is a leading provider of financial market intelligence and it provides the world's foremost source of credit ratings, indices, investment research, risk evaluation and data.

The Interim PM said that many investors know S and P for its respected role as an independent provider of credit ratings.

He said since the Interim Government took office in January this year, it has attained a number of major achievements including government finances and improving the economy as exemplified by the forecast of the Reserve Bank of Fiji that economic growth next year will be around 2 percent.