Global credit ratings agency Moody's upgraded Ghana's long-term local and foreign currency issuer ratings to "Caa2" from "Caa3" and "Ca," respectively on Friday October 11, 2024.
The upgrade was based on extensive debt treatment that has significantly alleviated the government's financial burdens.
Subsequently, Moody's also revised Ghana's outlook from "stable" to "positive".
According to a statement from Moody's, it noted that the "positive outlook reflects the potential for liquidity risk to ease amid ongoing fiscal consolidation efforts supported by an IMF programme." Read the full statement below: Moody's Ratings (Moody's) has on October 11, 2024 upgraded Government of Ghana's long term local and foreign currency issuer ratings to Caa2 from respectively Caa3 and Ca and changed the outlook to positive from stable.