Ghana says it’s ‘gravely concerned’ about the rating cut Downgrade suggests institutional bias against Africa economies
Ghana slammed a debt downgrade by Moody’s Investors Service, saying it was “gravely concerned” and that the ratings company left out key data to arrive at its decision.
Moody’s lowered Ghana’s long-term debt one step to Caa1 from B3 on Feb. 4, citing an increasingly difficult task the government faces in addressing its liquidity and debt challenges amid revenue-generation constraints.
Source: Bloomberg
