Ghana is giving the nation’s improved internal finance conditions a new vote of confidence – Moody’s revision

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd

Moody’s has revised Ghana’s outlook to positive from stable, offering a fresh vote of confidence in the country’s improving domestic financing conditions even as it kept the sovereign’s long-term rating unchanged.

The move signals that, in the agency’s view, Ghana’s funding position is becoming less fragile, though far from fully repaired.

The decision comes as Ghana continues to emerge from what many describe as its most severe economic crisis in decades.

Moody’s said the outlook change was driven by an easing in domestic financing pressures, aided by lower borrowing costs, monetary easing, and an improved fiscal position.

It added that the resumption of domestic bond issuance, if sustained, should gradually reduce rollover risk.

Source: newsthemegh.com