


Ghana’s Dollar Bonds Rally after Passing Key E-Levy Tax Law
Ghana approved a tax on electronic payments (e-levy), an important law by the government to reduce its budget deficit this year. Government has the budget-deficit target of 7.4% of GDP this year and 12.1% last year. The e-levy proposed by finance minister Ken...
Ghana Downgraded to Caa1 by Moody’s
Ghana was downgraded to Caa1 from B3 by Moody’s, while the outlook was changed to stable from negative. The downgrade reflects the increasingly difficult task the government faces in addressing its “intertwined liquidity and debt challenges”, said...
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...