Standard Chartered Bank

26 Oct

Cedi May Receive Sentiment Boost If Government Secures IMF Staff-Level Agreement By December 2022

wontumionlineBusinessCEDI, IMF Staff-level agreement, September 2022 African Markets Revealed, Standard Chartered Bank

Should the government secure a staff-level agreement with the International Monetary Fund by December 2022, the Ghana cedi may receive a sentiment boost, the September 2022 African Markets Revealed by Standard Chartered Bank indicates. However, debt restructuring concerns may restrain foreign portfolio investment until such time of clarity on the mooted deal. In its base case scenario, Standard Chartered Bank foresees at least a staff-level agreement with the IMF for a funded programme between December 2022 and April 2023. “Our base case foresees at least a staff-level agreement with the IMF for a funded programme worth around $3.0 billion between…

25 Oct

Ghana Biggest Loser On African Continent For Failing To Issue Eurobonds: Year-To-Date Index Down 34.6% – Report

wontumionlineBusinesseurobonds, Ghana, September 2022 Africa Markets Revealed, Standard Chartered Bank

Ghana has become the biggest loser on the African continent as a result of the country’s inability to issue Eurobonds. The lack of access to the international capital market is as a result of global economic challenges and internal issues. According to the September 2022 Africa Markets Revealed Report by Standard Chartered Bank, the country’s Year-To-Date Index (listed bonds) is down by 34.6%. It is followed by Morocco (-20.8%) and Rwanda (-20.2 %), while the biggest gainer is the Republic of Congo, whose Year-To-Date index is up 9%. The report also said while oil and gas prices are starting to…