Close Menu
MyGhanaDaily
    Facebook X (Twitter) Instagram
    MyGhanaDaily
    Monday, October 6
    Trending
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    • The Business Side of Ghanaian Music Nobody Talks About
    • Top 10 Rap Verses in Ghanaian Hip-Hop History
    • Best Ghanaian Music Videos of All Time
    • Top 10 Ghanaian Throwback Songs That Still Hit Today
    • Absa Bank Ghana hosts Strategic Dialogue on Ghana’s 24-Hour Economy initiative
    Your Marketplace Banner
    • News
    • Business
    • Entertainment
      • Music
      • Movies
      • Fashion
      • Celebrity news
    • Sports
    • Health
    • Technology
    • Agriculture
    • Opportunites
    • Videos
    • More
      • Education
      • Tourism
      • History
      • Feature
      • Opinion
      • World
    MyGhanaDaily
    Home»Economic»S&P upgrades Ghana’s Credit Rating from ‘SD’ to ‘CCC+’
    Economic

    S&P upgrades Ghana’s Credit Rating from ‘SD’ to ‘CCC+’

    MGD NewsBy MGD NewsMay 10, 2025No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    IMG 20250510 WA0003 638x424 1
    Getting your Trinity Audio player ready...

    S&P Global Ratings has upgraded Ghana’s foreign currency issuer credit rating from ‘SD’ (Selective Default) to ‘CCC+ , reflecting renewed investor confidence and the positive momentum in economic management under the leadership of Finance Minister Dr. Cassiel Ato Forson

    The rating agency announced the move following the successful conclusion of key phases of the country’s domestic debt exchange programme and continued negotiations with external creditors.

    Send your stories to Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140

    According to S&P’s latest report, Ghana’s negotiations with its remaining commercial creditors are nearing completion — a key milestone that has restored credibility and eased fiscal pressure.

    The upgraded credit rating is underpinned by strengthening external indicators, notably a marked rise in gold export earnings and the steady re-accumulation of foreign exchange reserves.

    It signals improved external liquidity and enhanced capacity to meet near-term external obligation as the restructuring of outstanding commercial debt also nears completion.

    Following the successful Eurobond exchange in October 2024, the revised ‘CCC+’ rating more accurately captures Ghana’s improving creditworthiness.

    This marks a critical step forward after the successful completion of both local currency and Eurobond restructurings, as well as the ratified memorandum of understanding with bilateral creditors signed on January 29, 2025.

    However, S&P Global Ratings warns that Ghana’s credit rating could face downward pressure over the next 12 to 18 months if fiscal performance deteriorates or financing conditions tighten.

    Currently, fiscal reforms to fix economic vulnerabilities are underway amidst the structural challenges in the fiscal outlook of the country.

    Inflation, though still elevated at 21.2% is on a downward trend –  its lowest level in eight months as a stronger cedi has helped curb import-related price pressures.

    The local currency, which crossed the GH¢17 mark on the retail market in 2023, is now trading around GH¢14 as it is showing signs of resilience.

    Finance Minister, Dr. Cassiel Ato Forson assures that the gains are not short-lived occurrences but a reflection of prudent and well-coordinated economic policies.

    He attributes the sustained progress to robust fiscal planning and targeted policy actions aimed at restoring macroeconomic confidence.

    Source: myghanadaily

    Send your news stories to
    Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140
    Advertise with us | Follow our WhatsApp channel for more news
    Economics
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleMCE confirmation in Bole postponed to May 12 amid youth protest
    Next Article Suzzy Pinamang arrives in UK for urgent eye surgery
    MGD News

    myghanadaily.com

    Related Posts

    President Mahama assigns MiDA as focal institution for philanthropic and grant-based partnerships

    September 25, 2025

    FirstBank Ghana to commission Tamale branch transformation

    September 9, 2025

    CEMSE proposes removal of BOST margin

    September 9, 2025
    LATEST NEWS
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    • The Business Side of Ghanaian Music Nobody Talks About
    • Top 10 Rap Verses in Ghanaian Hip-Hop History
    SPORTS NEWS

    2026 FIFA WCQ: Ghana beats Mali

    September 9, 2025

    The Black Stars Podcast: A six-part dive into Ghana’s football history, struggles and sparks of glory

    August 30, 2025

    2026 World Cup qualifiers: Black Stars set to open camp on September 1

    August 27, 2025

    Felix Afena-Gyan Joins Amedspor on Season-Long Loan

    August 21, 2025

    Ayew Stays Positive as Foxes Target Quick Response

    August 21, 2025
    Recent Posts
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    • The Business Side of Ghanaian Music Nobody Talks About
    • Top 10 Rap Verses in Ghanaian Hip-Hop History
    Like Us On Facebook
    Facebook Pagelike Widget
    • Facebook
    • Twitter
    • Instagram
    © 2019 -2025 Copyright | MyGhanaDaily.com

    Type above and press Enter to search. Press Esc to cancel.