Full statement on Ghana’s new engagement with the IMF

• The cedi came under intense pressure;• inflation rose to painful levels while investor confidence deteriorated sharply;• external reserves were strained; and• Ghana lost access to the international capital market. • In February 2022, Moody’s downgraded Ghana to Caa1;• In August, S&P downgraded Ghana to CCC+;• Again in August, Fitch downgraded Ghana to CCC;• In […]

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