THIS SHOULD BE THE PROBLEM OF NDC NOT AKUFFO ADDOS AGE Ghana’s credit rating has been downgraded further into “junk” territory by Standard & Poor’s on concerns that access to financing will continue to be a struggle even if the nation enters an International Monetary Fund programme. S&P highlighted that despite a successful international bond issue earlier, account receipts and reserves next year, and therefore relegated Ghana one notch to B-, six levels below investment grade today. The government is currently negotiating with the IMF for an economic reform and bailout package, and the rating agency said it had a stable outlook on Ghana’s rating on the assumption that it would strike a deal that could tide it over until new oil and gas production comes on line. Nonetheless, S&P’s analysts sounded a cautious note on whether an IMF programme would prove successful. “We think the Ghanaian government will find the conditions attached to an IMF programme hard to meet, particularly with parliamentary and presidential elections coming up in late 2016.” citifmonline/2014/10/25/ghana-downgraded-by-sp/
Posted on: Sat, 25 Oct 2014 20:22:23 +0000
Trending Topics
Recently Viewed Topics
© 2015