Tag: Standard and Poor’s Global Ratings
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Ghana likely to secure US$3 billion from IMF for economic support
Government could obtain a loan of about US$3 billion from the International Monetary Fund as economic assistance. According to Bloomberg, the funding which will come in the form of balance of payment support will be spread within three years. A billion dollars is expected to come in immediately after the Fund approves an economic programme…
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Government disappointed by Standard & Poor’s downgrade rating
The government has expressed its disappointment in Standard and Poor’s downgrade of Ghana’s credit rating despite the “bold policies” it implemented in 2022 to address the fiscal challenges confronting the economy. S&P Global Ratings, on Friday, 5th August, downgraded Ghana’s foreign and local currency credit rating from B-/B to CCC+/C with a negative outlook, sighting…