Euromoney cuts Ghana’s economic risk sentiments

Ghana’s overall risk assessment score has been reduced by 1.2 points in Euromoney’s Country Risk (ECR) survey.

According to Euromoney, economists who participated in the survey downgraded Ghana’s overall risk assessment score to 44.8 points in 2012.

This decline compares unfavourably with the average ECR score for sub-Saharan Africa, which improved by 0.7 points last year, it said February 21, 2013.

The survey measures the real-time of risk sentiments of countries.

Ghana’s budget deficit for 2012 was 12.1% and Euromoney indicated that investors received an early warning of Ghana’s deteriorating fiscal position and widening budget deficit.

“The sovereign’s ECR score decline was not enough to upset Ghana’s position in the ECR ranking, which remains stable and unchanged in 2012,” Euromoney noted.

With a global rank of 77, Ghana now sits in the upper bound of ECR Tier 4, alongside Romania, Kazakhstan and Morocco.

By Ekow Quandzie