The Director of Communications for the New Patriotic Party (NPP), Richard Ahiagbah, has stated that Moody’s recent upgrade of Ghana’s economy serves as a validation of the nation’s economic recovery.
He urged the presidential candidate of the National Democratic Congress (NDC), John Dramani Mahama, to recognize the improvements in the economy and to acknowledge the government’s efforts. In a statement on his X platform, Mr. Ahiagbah remarked,
Moody’s has raised Ghana’s credit ratings to Caa2, accompanied by a positive outlook for future fiscal stability. This favorable development confirms the economic turnaround, evidenced by an anticipated average growth rate of 5.8% in the first and second quarters of 2024.
The NDC and H.E Mahama must take note of this positive news for the economy and acknowledge…Praise when it is due! It’s possible.
International credit rating agency Moody’s has raised Ghana’s long-term issuer ratings for both local and foreign currency from “Caa3” to “Caa2” and from “Ca” to “Caa2,” respectively.
This upgrade is attributed to comprehensive debt management efforts that have notably reduced the financial pressures faced by the government.
