Ghana’s credit rating upgraded by Moody’s after nation cut debt

Moody’s Ratings raised Ghana’s sovereign credit rating, citing improved prospects for debt reduction. The West African nation’s long-term foreign currency debt was upgraded to Caa1 from Caa2, the ratings agency said on Friday. The outlook was changed to stable from positive. “Greater macroeconomic stability and favourable external dynamics are supporting more controlled funding costs and…

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Ghana passes IMF’s 5th Review, set to receive $385m boost

The International Monetary Fund (IMF) and the government have reached a staff-level agreement on the fifth review of Ghana’s three-year programme under the Extended Credit Facility. The deal clears the way for Ghana to access about SDR 267.5 million, equivalent to $385 million, once it receives management and Executive Board approval. This will bring the…

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