Fitch warns Ghana risk further downgrade to default status if the country's current economic conditions do not improve soon.

Rating agency, Fitch, has downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ or junk status from ‘B-‘.

Ghana could secure a 3 year programme from the international monetary fund with total financial package of $10 billion.

Africa’s biggest bank, Standard Bank, has slashed Ghana’s growth rate forecast for 2022 to 3.1%, from the earlier 6.2%. It has also lowered its 2023 Gross Domestic Product (GDP) forecast for the country to 4.1%, from the earlier 6.8%. The government in the 2022 Mid-Year Budget Review cut the growth rate for this year to 3.7%, from the earlier projection of 5.8%.

The Vice Chairman of the LPG Marketers Association of Ghana, Gabriel Kumi, says his Association will not call off its strike till they have received favorable communication from cabinet.

The cedi lost a little over 7% in value to the US dollar in the first month of the third quarter of 2022, taking the year-to-date depreciation to 20.5% on the interbank market.

The cedi is expected to stabilise by the 4th quarter of this year, some currency analysts have told Joy Business.

The Institute for Energy Security has urged the government to reconsider its decision to push through the Liquefied Petroleum Gas (LPG) cylinder recirculation model without broader consultations with the stakeholders, including the LPG Marketers Association.

Finance Minister, Ken Ofori-Atta, says while the government may be embarking on a three year programme with the International Monetary Fund (IMF), it intends on completing the programme in two years.

Finance Minister, Ken Ofori-Atta, says the government is not willing to scrap the e-levy.