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Reuters
Reuters
World

Default 'a real possibility' for Ghana, Fitch senior director says

Sovereign debt default is "a real possibility" for Ghana as it contends with an economic crisis, a senior director from the ratings agency Fitch said on Wednesday.

The West African country turned to the IMF for help in July as its balance-of-payments position deteriorated and hundreds of people took to the streets to protest against economic hardship.

The gold- and cocoa-producing nation's government has been struggling to slow galloping inflation, reduce the public debt and revalue the local currency.

(Reporting by Cooper Inveen; Editing by Hugh Lawson)

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