Fitch revises Ghana view to negative

Fitch Ratings said it revised Ghana's outlook to negative from stable and affirmed its B long-term foreign-currency issuer default rating.

“The revision of the outlook to negative reflects the significant deterioration in public finances stemming from the Covid-19 pandemic and the delays to the government's fiscal consolidation efforts, which reduce Ghana's ability to absorb further shocks for an extended period. Moreover, in our view the lack of a clear majority in parliament following the December 2020 elections increases the risk of fiscal slippages,” the agency said in a press release.

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