Pulse.com.gh logo
Go


Ghana's Economy Terkper hails Moody’s rating

The international rating agency has defined Ghana’s economy as stable, affirming it three with a B1 rating.

  • Published:
play Seth Terkper
24/7 Live - Subscribe to the Pulse Newsletter!

Finance Minister Seth Terkper has welcomed Moody’s rating of the Ghanaian economy as stable.

“The factors that are leading to the upgrade are the IMF programme, the home-grown policies and the general performance of the economy as a whole,” he told Citi FM.

He added: “What we have seen is the downgrade stopping, and we remaining at our ratings. We are hopeful that the other rating agencies which also halted the downgrade will also start moving towards a positive rating.”

READ MORE:Economist warns of economic recession

The international rating agency defined Ghana’s economy as stable, affirming it three with a B1 rating.

Since 2015, Moody’s has rated the Ghanaian economy at B3/ negative.

The latest decision to rate the economy stable, Moody’s said in a statement, was informed by three key drivers.

The first is the country’s debt reduction and reforms. The second is the reduction in government liquidity risk and the third is improved balance of payment dynamics and development in the country’s oil and gas sector.

It said “the first is the "significant deficit reduction and institutional reform implementation over the past year under the umbrella of the three-year IMF programme which started in April 2015".

READ MORE: Gov’t woos banks into oil and gas financing

Second is the "Reduced government liquidity risk on the external side after the successful issuance of a recent $750 million Eurobond in earmarked to redeem the remaining $400 million October 2017 Eurobond maturity."

The third is improve payment dynamics and development in the country’s oil and gas sector which has attracted high foreign direct investment, reduced currency volatility and supporting buffer reserves.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 New Appointment Nana Addo appoints Mahama as Lands Commission bossbullet
2 Ghana Politics Akufo-Addo fires Lands Commission bossbullet
3 Mobile Money MTN freezes account of Ponzi scheme over GH¢11m defaultbullet
4 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions...bullet
5 Mahama boys prevented me from meeting him – Fibre Optics Inventorbullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Government Interventions UN expert says 1D1F, $1m Per...bullet
8 Banking In Ghana Invest in more risky ventures – Nana Addo...bullet
9 Ports And Harbour Issues GPHA staff apologises to Mac Manubullet
10 Free Decoder Promo StarTimes launches most affordable...bullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Forbes 2018 Africa's billionaires rich listbullet
3 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
4 Plane Crash Starbow suspends operations following plane crashbullet
5 Support Finance minister buys Kantanka carbullet
6 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
7 Money Alert Meet Africa's richest womanbullet
8 Video We are determined to move Ghana beyond aid - Bawumiabullet
9 Entrepreneurship Failure- How To Deal With It |...bullet
10 Tech 6 reasons you should buy an iPhone SE instead of...bullet

Business