At the same time, it expects a deal with its commercial creditors by mid-2024. This it believes will improve investor confidence towards Ghanaian assets, improve capital inflows and provide support to the cedi.
In its December 2023 Country Risk Report on Ghana, it said the government will make progress regarding the restructuring of Ghana’s external debt under the G20 Common Framework in the coming quarters.
Fitch expects that the government and external creditors will be able to finalise debt restructuring negotiations by the middle of next year, otherwise investor confidence towards Ghanaian assets would weaken.
This, it stressed, would result in a renewed sell-off of the Ghanaian cedi, which would lead to stronger imported price pressures.
Source: myjoyonline
