Tag: Fitch
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Ghana cedi to end 2023 at ¢12.40 to a dollar – Fitch
Fitch Solutions has predicted that the Ghana cedi will end 2023 at a rate of ¢12.40 to one US dollar, which is a significant improvement from the 38% depreciation recorded last year. Fitch Solutions argues that this positive trend is likely to be attributed to Ghana securing an International Monetary Fund-support program by May 2023,…
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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…