President John Dramani Mahama has praised the recent upgrade of Ghana’s credit rating by the global agency Fitch, viewing it as a reflection of renewed investor confidence and a recognition of his administration’s efforts to stabilize the economy.
On Tuesday, June 17, Fitch Ratings elevated Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘Restricted Default’ to ‘B-’ with a Stable Outlook.
During his address at the Ghana-European Union Partnership Dialogue, President Mahama remarked that this development confirms Ghana’s ongoing economic recovery and the effectiveness of significant policy measures implemented under his leadership.
“In terms of macroeconomics and fiscal governance, Ghana’s economic outlook is steadily improving. Our administration is dedicated to restoring macroeconomic stability through careful fiscal management, improved domestic revenue mobilization, and rationalizing expenditures. In collaboration with the Bank of Ghana, we are focused on managing inflation, stabilizing the Cedi, and implementing debt restructuring strategies to regain confidence and rebuild the fiscal space of the economy. These initiatives are bearing fruit, and just yesterday, the Fitch Rating agency upgraded Ghana’s status from restricted default to B- with a Stable Outlook.
“We are also actively pursuing regulatory and institutional reforms aimed at reducing inefficiencies and enhancing transparency, thereby expanding our fiscal space,” he added.
Source: HotFmOnline.com
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