Ghana's inflation rises to 31.7% in July
![](/images/news/west/ghana-flag.jpg)
Ghana's inflation rate increased to 31.7 percent in July, the highest since November 2003, said the Ghana Statistical Service (GSS) Wednesday.
Ghana's inflation rate increased to 31.7 percent in July, the highest since November 2003, said the Ghana Statistical Service (GSS) Wednesday.
Fitch Ratings has downgraded Ghana's Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to 'CCC' from 'B-'. Fitch typically does not assign Outlooks to sovereigns with a rating of 'CCC+' or below.
Ghana's central bank announced Monday to stay its benchmark policy rate at 19 percent to observe the impact of previous hikes on inflation and other macroeconomic indicators.
USD denominated Eurobonds have become the darling of the African investor. Nigeria and Ghana are amongst the most popular Eurobonds requested. Nigeria with a low 34.98% debt to GDP ratio offers strong yields with comparatively low risk to capital.