International credit rating agency Moody's has upgraded Ghana's long-term local and foreign currency issuer ratings to "Caa2" from "Caa3" and "Ca," respectively, citing extensive debt treatment that has significantly alleviated the government's financial burdens.
Moody's upgrade Ghana on Friday October 11.
The agency also revised the West African country's outlook to "positive" from "stable." The "positive outlook reflects the potential for liquidity risk to ease amid ongoing fiscal consolidation efforts supported by an IMF programme," Moody's said in a statement.
eport this ad Last week, the International Monetary Fund staff and officials in Ghana reached an agreement on their third review of the country's $3 billion loan programme.