Sovereign Credit Insights EMEA Edition

September Spotlight: An update on the UK, Ghana and Tunisia

  • Update on the UK (Aa3 stable) in light of the announced tax cuts and the cap on energy bills
  • Update on Ghana (Caa2 RUR) following downgrade and initiation of review for downgrade
  • Update on Tunisia (Caa1 RUR) following initiation of review for downgrade

Update on the UK (Aa3 stable) in light of the announced tax cuts and the cap on energy bills
What are the implications of the measures for the macroeconomic outlook and the fiscal picture? What risks are there for the government’s debt affordability?

Update on Ghana (Caa2 RUR) following downgrade and initiation of review for downgrade
To what extent has Ghana’s chronic debt and liquidity challenges further increased in recent months?  Can the government avoid a default?

Update on Tunisia (Caa1 RUR) following initiation of review for downgrade
How have Tunisia’s fiscal and external imbalances evolved during recent shocks?  How critical is securing an IMF programme, and will Tunisia be able to secure sufficient external funding to meet its financing requirements?

  • Speakers keyboard_arrow_down
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    Olivier Chemla Vice President - Senior Analyst, Sovereign/ Sub-Sovereign Moody's Investors Service Bio
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    Evan Wohlmann Vice President - Senior Credit Officer, Sovereign Risk Group Moody's Investors Service Bio
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    Lucie Villa Vice President – Senior Credit Officer, Sovereign Risk Group Moody's Investors Service Bio
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    Mickaël Gondrand Analyst, Sovereign Risk Group Moody's Investors Service Bio
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