Tag: African Peer Review Mechanism
-
Recent downgrades by S&P, Fitch ratings on Ghana unfair – African Peer Review Mechanism
The African Peer Review Mechanism (APRM) has condemned the recent downgrade of Ghana’s economy by ratings agency S&P and Fitch, saying, the unjustified negative rating actions in Africa since the beginning of 2022 is unwarranted and contrasting the continent’s economic recovery efforts from the devastating impact of the Covid-19 pandemic. According to the APRM, this…
-
Moody’s must review Ghana’s appeal against Caa1 credit downgrade – APRM
The African Peer Review Mechanism (APRM) an autonomous entity of the African Union that supports African countries in the area of credit ratings, has denounced the recent downgrade of Ghana’s rating by international agency Moody’s from B3 to Caa1, with a stable outlook. The downgrade which the APRM says threatens Ghana’s debt sustainability efforts follows…