logo

S&P downgrades Ghana’s foreign & local currency to B-

Mozambique’s headline inflation remained unchanged at 2.8 per cent year on year in August and S&P Global Ratings downgraded Ghana’s long-term foreign and local currency sovereign ratings from B to B- as the COVID-19 pandemic will exacerbate the country’s fiscal challenges, with government debt increasing to over 70 per cent of GDP in 2020. Ridle Markus, Africa Strategist, Absa Corporate and Investment Banking joins CNBC Africa for more.


Mon Sep 14 2020 | 14:23:29 GMT+0000 (Coordinated Universal Time)


Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent. Sign up here.