President John Dramani Mahama has welcomed the recent credit rating upgrade of Ghana by global agency Fitch, calling it a strong signal of renewed investor confidence and affirmation of the government’s economic recovery efforts.
Speaking at the Ghana-European Union Partnership Dialogue in Accra on Tuesday, June 17, President Mahama noted that Ghana’s economy is on a steady path to recovery.
He attributed the progress to deliberate policy choices focused on fiscal discipline, domestic revenue mobilization, and expenditure rationalization.
He noted that these measures are already bearing fruit, citing Fitch’s recent decision to upgrade Ghana’s credit rating to B- with a Stable Outlook as clear evidence of the positive trajectory.
“”Ghana’s economy is steadily rebounding, with the government committed to restoring macroeconomic stability through prudent fiscal management, domestic revenue mobilization, and expenditure rationalization. The government is working with the Bank of Ghana to stabilize the currency and pursue debt restructuring strategies to restore confidence and rebuild the fiscal space for development. These efforts are yielding fruits and only yesterday, the fetch rating exchange Agency upgrades, Ghana’s credits outlook to B minus stable outlook.”
President Mahama further emphasized that the government is undertaking regulatory and institutional reforms aimed at improving transparency, curbing inefficiencies, and boosting fiscal performance.
“We’re also pursuing regulatory institutional reforms that promote transparency, reduce inefficiencies, and expands our fiscal base. We appreciate the EUs ongoing support in public financial management, domestic revenue reform, and anti-corruption efforts, which are essential pillars for sustainable growth,” he added.
Fitch’s upgrade comes after Ghana successfully restructured a significant portion of its external debt and reached agreements with both commercial and bilateral creditors—steps widely seen as vital to restoring financial stability and market trust.
Source: Ghana/Starrfm.com.gh/Hamdia Mohammed
