The Communications Director of the New Patriotic Party (NPP), Richard Ahiagbah, has described Moody’s upgrading of Ghana’s long-term local and foreign currency issuer ratings to “Caa2” from “Caa3” and “Ca,” as a confirmation of Ghana’s economy making an encouraging recovery.
Moody’s upgraded Ghana’s currency issuer ratings on Friday, October 11, citing extensive debt treatment that has significantly alleviated the government’s financial burdens.
Responding to the upgrade on his X handle, the NPP’s Communications Director praised the government for pulling through to nursing the ailing economy post COVID-19 to an enviable status.
“Moody’s upgraded Ghana’s credit ratings to Caa2 with a positive outlook for future fiscal stability. This good news confirms the turnaround of the economy, verifiable in the above expectation performance, an average of 5.8% growth in the first & second quarters of 2024.”
The rating agency also revised Ghana’s outlook to “positive” from “stable.”
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