Fitch Solutions

International rating agency, Fitch, is warning of more rating downgrades of African banks in 2023 as Ghana’s debt restructuring is expected to affect both domestic and regional banks.   According …

The global financial institution maintains that, Ghana will only reach a staff-level agreement with the IMF by the first quarter of 2023.

The investor firm is also projecting a 30.1% fall in value of the cedi to the dollar in 2023. This means, the woes of the cedi will not get better …

The financial support which is expected to come in tranches, according to Fitch, at least US$1.0 billion dollars may be released to Ghana government by the end of the first …

The country’s total revenue will end 2022 at ¢89.0 billion, far below the target of ¢100.5 billion, the July 2022 Africa Monitor Report by Fitch Solutions has revealed.

Further indicating that, it do not expect that private investment will meaningfully cushion the negative impact of subdued public infrastructure spending on the market’s construction industry growth, the agency said.

Ghana’s Trade and Investment Risk assessment scored of 50.9 out of 100 to outperform the West Africa average of 36.4. The score also was the second best on the continent …