Following an upgrade in Ghana’s credit rating by Fitch to B- and a stable outlook, the government recorded an oversubscription of its treasury bills for the first time in two months. According to the auction results by the Bank of Ghana, the Treasury recorded an 80% oversubscription of the short-term instruments. Investors responded swiftly to the […]
FITCH Solutions warns that a sharp decline in global gold prices, potentially triggered by changes in US trade policies or easing geopolitical tensions, could severely weaken the cedi, surge inflation and interest rates. The rating agency said this could severely weaken Ghana’s external buffers and renew downward pressure on the cedi. In its latest country […]
Fitch Ratings has assigned Ghana’s new US dollar bonds, issued on 9 October 2024, a ‘CCC+’ rating. Fitch also has upgraded Ghana’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘CCC+’ from ‘CCC’. Fitch has affirmed Ghana’s Long-Term Foreign-Currency (LTFC) IDR at ‘RD’. Fitch typically does not assign Outlooks to IDRs of sovereigns with a […]
Ghana’s economy will enter a recovery phase this year as the government is expected to increase expenditure in an election year, rating agency, Fitch, has predicted. – It said the recovery would be driven by stronger private consumption. Going into the 2024 elections; many have expressed concerns that the government would overspend its budget, a […]
Fitch Rating agency has projected Ghana to be the fastest growing economy in Sub Saharan Africa as it emerges strongly from the COVID-19 pandemic, President Nana Addo Dankwa Akufo-Addo has noted. The agency also projects that the economy will be restored to its previous position before the onset of the pandemic. Last year, in the […]
