Ghana's B3 rating and negative outlook reflect the sovereign's large gross financing needs, high debt burden and low debt affordability, Moody's Investors Service said in an annual report published this past week.
Finance Minister, Seth Terkper has hinted to Citi Business News Ghana will issue its 5th Eurobond by October 2016. Parliament in December, 2015 gave government the green light to go ahead and issue the Eurobond.
Ghana's central bank left its policy rate unchanged at 26.0 percent, the second highest policy rate worldwide, saying "the tight policy stance is needed to deepen the gains made in the foreign exchange market and strengthen the disinflation process over the forecast horizon."
Inflation for the month of April dropped marginally. The new rate is 18.7 percent, from the March figure of 19.2 percent.
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