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    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey

    Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable

    Cedi Summit comes off today at Alisa Hotel

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    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

    Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs

    CBOD calls for a more structured supply of Forex for petroleum products

  • TECHNOLOGY

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

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    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

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Negative credit rating: Risk to investments – Economist

bycitibusinessnews
March 29, 2016
in Business, Local Economy, Top Stories
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Economist, Dr. Ebo Turckson has warned that the latest rating of the Ghanaian economy by Fitch is a bad signal to investors.

[contextly_sidebar id=”dzNJzjjXao9HWw7u8NMuK674UYXup7LH”]According to him, the rating paints a gloomy picture of the country’s macro-economic and political environment which determines investments into the country.

“You know foreign investors look at some of these things, these indications, to be able to tell how to do business in the country or even to lend money to the government,” he remarked.

Credit ratings agency, Fitch, has warned that Ghana’s fiscal and external deficits leave the country vulnerable to domestic and external shocks, including low oil prices and tight financing conditions.

It consequently put Ghana’s credit rating at B with a negative outlook.

Fitch, added that the result has been lower growth of 4.1% in 2015 and a public debt to Gross Domestic Product (GDP) ratio of 72%, well above the ‘B’ median of 47%.

The ratings agency, however, warned that fiscal slippage ahead of the November elections would increase inflationary and financing pressures.

It also noted that a further decline in commodity prices would negatively impact growth and exacerbate Ghana’s twin deficits.

Dr. Ebo Turckson however advocated the introduction of measures to address possible imbalances that may arise this year.

“The rating is not too bad but we just have to make sure that we put in place measures to tackle any external imbalances that may arise in this year and minimize the extent to which our stability is thrown off board. If it does happens that way then our credibility rating will drop. But as we speak, it is not too bad for the country, we have done well in 2015 in terms of consolidation. These are the things that feed into the perception of whether the economy is at risk or not,” He stated.

–

By: Norvan Acquah-Hayford/citibusinessnews.com/Ghana

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