Inflation rises further to 31.7% in July 2022; Transport major driver
Year-on-year inflation crossed the 30% mark to hit 31.7% in the month of July 2022, data from the Ghana Statistical Service has revealed. This is the highest inflation rate recorded since late 2003. However, the rate of inflation slowed down in the month under review, as inflation went up by 1.9% over that of June […]
Fitch downgrades Ghana to junk status days after poor S&P grading
Rating agency, Fitch, has downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ or junk status from ‘B-‘. The downgrade, it said, reflects the deterioration of Ghana’s public finances, which has contributed to a prolonged lack of access to Eurobond markets, in turn leading to a significant decline in external liquidity. “In the […]