Ghana Downgraded to B- by Fitch
Ghana was downgraded to B- from B by Fitch reflecting its loss of access to capital markets in H2 2021, following a rise in government debt due to the pandemic. Fitch said that the lack of capital market access puts into question its ability to meet medium-term...
Ukraine’s Dollar Bonds Slump on Worries over Potential Invasion
Ukraine’s dollar bonds fell 3-5 points on fears about Russian military action against Ukraine. Russia had mobilized about 100,000 troops on Ukraine’s border and threatened “grave consequences” if its push for security guarantees from the US did not succeed, as...
Sri Lanka Downgraded to CCC by S&P; CBSL Gov Says it Will Meet All Debt Repayments
Sri Lanka was downgraded to CCC from CCC+ by S&P reflecting continued deterioration in the nation’s ability to maintain sufficient forex resources to meet external obligations. S&P said, “The Sri Lankan government faces increasingly likely default...
Turkey Devises New Bonds to Compensate For Losses from Lira Deposits
In the latest from Turkey, the Erdogan-led government is said to be seeking approval to issue new bonds for banks to pay additional interest to lira deposit holders should the extent of lira depreciation exceed banks’ interest rate. This comes after the emerging...
