Story By: Akua Oteng Amponsah
President John Dramani Mahama has welcomed the recent credit rating upgrade by Fitch Ratings as evidence of renewed investor confidence and a testament to his administration’s economic stabilization efforts.
Fitch Upgrades Ghana’s Credit Rating
On June 17, Fitch Ratings upgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘Restricted Default’ to ‘B-‘ with a Stable Outlook.
President Mahama’s Remarks
Speaking at the Ghana-European Union Partnership Dialogue, President Mahama attributed the upgrade to his administration’s policy measures, citing steady economic recovery and improved macroeconomic stability.
The President reaffirmed his administration’s commitment to prudent fiscal management, revenue mobilization, and expenditure rationalization, working in partnership with the Bank of Ghana to manage inflation and stabilize the cedi.
Economic Reforms
President Mahama highlighted ongoing regulatory and institutional reforms aimed at reducing inefficiency, improving transparency, and expanding fiscal space.
The upgrade is seen as a positive indicator of Ghana’s economic prospects, reflecting the government’s efforts to restore confidence and rebuild fiscal stability.
