Fitch downgrades Ghana's outlook from Stable to Negative
Image source: StarrFM

Fitch downgrades Ghana's outlook from Stable to Negative


Summary short_text

International Economic rating firm Fitch has downgraded Ghana's Long-Term Foreign-Currency Issuer Default Rating to Negative from stable.

Fitch has affirmed the IDR at 'B'. According to the latest Fitch report, the negative rating reflects the significant deterioration in public finances as a result of the Covid-19 pandemic and the delays by government to roll out its fiscal consolidation efforts.

The 'B' rating reflects the high public debt level and low revenue base, which means that Ghana's debt affordability metrics will remain markedly weaker than rating peers over the rating horizon.


Read full article: StarrFM |
More from: StarrFM More in: Tech
More news summaries from StarrFM
Tech

Ghana to receive 1.3m Pfizer vaccines from US

The Vice President of the United States of America, Kamala Harris, has assured the President of the Republic of Ghana, Nana Addo... read summary
Tech

Hollard Ghana's Patience Akyianu is the African Female Business Leader of the Year

Hollard Ghana's Group Chief Executive Officer Patience Akyianu has achieved continent-wide recognition as the African Female Bus... read summary
Tech

Ishak Spark details reality of hustling in 'Adwuma' video

Multiple award-winning act, Ishak Spark has just blessed fans with jolting visuals for the latest entry dubbed, Adwuma. Ishak Sp... read summary
Tech

EU rules to force USB-C chargers for all phones

Manufacturers will be forced to create a universal charging solution for phones and small electronic devices, under a new rule p... read summary
Tech

Takoradi woman does not have a child with current husband

Josephine Simpson, the woman at the centre of the controversial kidnapping and pregnancy case in Takoradi in the Western region,... read summary
Tech

Government did nothing wrong airlifting $3 Million to Brazil for Black Stars

Former Deputy Sports Minister, Joseph Yamin has indicated that the NDC government did nothing wrong when they airlifted three mi... read summary
Tech

New GBA President can't criticise govt; he's NPP activist

Former deputy Sports Minister Joseph Yamin says the newly elected President of the Ghana Bar Association Yaw Acheampong Boafo ca... read summary
Tech

Three arrested over 'missing' pregnant woman saga

The police have arrested three persons for allegedly conspiring to fake the kidnapping of the missing but found pregnant woman i... read summary
Tech

COCOBOD signs $1.5b syndicated loan for 2021/22 crop season

COCOBOD has signed an agreement for a US$1.5 billion syndicated loan facility for the 2021/22 cocoa crop season. The loan is pro... read summary
More News Summaries...
GH Page Sports |
GhanaWeb Business |
GhCelebrities Showbiz |
Pulse Gh Showbiz |
GhCelebrities Showbiz |
Pulse Gh Showbiz |
GhanaWeb Politics |
GhCelebrities Showbiz |
GhanaWeb Business |
CitiNewsRoom Politics |
GH Page Sports |
Peacefmonline Tech |
CitiNewsRoom Politics |
GH Page Sports |
CitiNewsRoom Politics |
GH Base Showbiz |
Pulse Gh Showbiz |
GH Base Showbiz |
GH Base Showbiz |
Yen Sports |