Tag: Moody’s rating
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Moody’s downgrades Ghana’s rating from Caa1 to Caa2
Rating agency, Moody’s has downgraded Ghana’s long-term issuer and senior unsecured debt ratings from Caa1 to Caa2 and placed the ratings on review for downgrade. Moody’s, in February this year, downgraded Ghana from B3 to Caa1. The agency contends that the further downgrade stems from the government’s decision to seek support from the International Monetary…
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Rely on digitization to plug expenditure loopholes – Economist to gov’t
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming has charged the government to hasten efforts at leveraging its digitization agenda to plug any revenue and expenditure loopholes while focusing on property taxation and tax exemptions to raise more revenue. The remarks follow the downgrades of Ghana’s credit rating…
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Government rejects Moody’s downgrade of Ghana’s credit rating
The government is unhappy with credit rating agency, Moody’s, for downgrading Ghana’s Long-Term Issuer and Senior unsecured bond ratings to Caa1 from B3. According to government, it believes that the recent fiscal consolidation measures announced by the Finance Minister and the 2022 budget, which are anchored on debt sustainability and a positive primary balance, largely…