Articles
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5 days ago |
bloomberg.com | Moses Mozart Dzawu
Oxford Street in Accra, Ghana. (Bloomberg) -- Ghana’s credit rating was raised by S&P Global Ratings after the new administration unveiled plans to rein in spending as the West African nation recovers from a painful debt restructuring. The credit assessor upgraded the long-term foreign-debt rating of Africa’s top gold producer to CCC from SD, or selective default. The outlook was set at stable.
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5 days ago |
bloomberg.com | Moses Mozart Dzawu
Ghanaian flags during the presidential inauguration ceremony of John Mahama at the Independence Square in Accra, Ghana, on Tuesday, Jan. 7, 2025. Ghana voted ex-President Mahama to return to the role he served in eight years ago, handing him a strong mandate to fix the West African nation’s crippling debt burden and high cost of living.
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1 week ago |
bloomberg.com | Ekow Dontoh |Moses Mozart Dzawu
Ghana cedi banknotes. (Bloomberg) -- Ghana’s inflation rate fell to an eight-month low in April as the West African nation’s world-beating currency helped rein in import costs. Consumer prices rose 21.2% in April, compared with 22.4% the month before, Government Statistician Alhassan Iddrisu told reporters in the capital, Accra, on Wednesday. Prices rose 0.8% in the month. Non-food price growth decelerated to 17.9% from 18.7%, as a rally in the cedi reduced the cost of imports.
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2 weeks ago |
bloomberg.com | Moses Mozart Dzawu
A gold nugget at a legal small-scale legal mining site in Tarkwa, Ghana, on Thursday, Oct. 17, 2024. The indebted West African state is potentially losing billions from illegal gold mining, known as galamsey, that is causing environmental carnage. Photographer: Francis Kokoroko/Bloomberg(Bloomberg) -- Ghana has arrested three Indian nationals for allegedly smuggling gold out of the West African nation for the past decade.
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2 weeks ago |
financialpost.com | Moses Mozart Dzawu |Alister Bull
(Bloomberg) — African economic growth will be slower than forecast due to President Donald Trump’s trade war and his freeze on US aid, the International Monetary Fund said, as it pledged to support countries in need. “We are an institution that has been created to help countries deal with global shocks. That is exactly what we’re here for,” Abebe Selassie, director of the IMF’s Africa Department, said in an interview.
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