The Bank of Ghana (BoG) will on Wednesday, August 17, 2022, hold an emergency Monetary Policy Committee (MPC) meeting on Ghana’s recent economic challenges.
The Central Bank in a public notice indicated the meeting will review developments in the economy over the past month.
The notice added the meeting will conclude with an announcement of the committee’s decision.
Such meetings are mainly attended by officials of the Central Bank, banking consultants and economists and other relevant stakeholders.
The Committee was originally scheduled to hold its next meeting from September 20th to 23rd, 2022.
But this comes a few days after rating agency, Fitch, downgraded Ghana’s Long-Term Foreign-Currency (LTFC) Issuer Default Rating (IDR) to ‘CCC’ from ‘B-‘.
The downgrade, it said, reflects the deterioration of Ghana’s public finances, which has contributed to a prolonged lack of access to Eurobond markets, in turn leading to a significant decline in external liquidity.
Below is the public notice:
