Business News of Tuesday, 7 September 2021Source: www.ghanaweb.com• Ghana’s economic outlook has been rated as negative• According to Moody’s the country’s long term issuer ratings stands at B3• This is as a result of the country’s increasing debt burdenGhana’s economic outlook has been rated negative by the international ratings agency, Moody’s, according to a Joy Business report. The agency has also affirmed the country’s long term issuer rating’s at B3. This development, according to the portal, reflects Ghana’s high and increasing debt burden which will likely not reduce any time soon. The agency also cited a persistent weak debt affordability, high gross borrowing requirements and liquidity challenges, social and financial risks following at the onset of the coronavirus pandemic, as its reasons for the ratings. Moody’s said Ghana will, for the time being, depend on domestic and international bond issuance to address financing needs.

Source: GhanaWeb September 07, 2021 18:33 UTC