Moody’s upgrades Ghana’s credit rating, outlook now positive

Moody’s has raised Ghana’s long-term local and foreign currency ratings from “Caa3” and “Ca” to “Caa2,” reflecting improved financial conditions following significant debt restructuring.

The global ratings agency also upgraded the outlook to “positive” from “stable,” citing the potential for eased liquidity risks supported by the ongoing IMF program and fiscal reforms.

In September, Ghana reported 6.9% economic growth for the second quarter of 2024, the fastest in five years.

Moody’s expects the country’s debt to decline gradually as the government resumes payments on both interest and principal.

SOURCE: DAILY MAIL GH

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