Credit rating agency Moody’s upgraded the Government of Vietnam’s Bond ratings to Ba2 from Ba3. The outlook is stable. The upgrade reflects the assessment by Moody’s that Vietnam’s economy has growing strengths and greater resilience to external macroeconomic shocks. Moody’s also considers the diversity of Vietnam’s export industry as a risk-reducing factor. According to Vietnam’s Ministry of Finance, the amount of the country’s public debt in relation to GDP has decreased from 61.4 percent to 43.1 percent during the years 2017-2021.