Moody’s upgrade of Ghana confirms the turnaround of the economy – Ahiagbah

Moody’s upgraded Ghana’s credit ratings to “Caa2” from “Caa3” with a positive outlook, reflecting fiscal recovery efforts supported by an IMF program.

This follows extensive debt restructuring, which alleviated the government's financial burdens and reduced debt stock by $4.7 billion.

The upgrade comes after Ghana’s economy grew 6.9% in Q2 2024, the fastest in five years.

NPP’s Director of Communications, Richard Ahiagbah, praised the recovery, urging NDC’s John Mahama to acknowledge the progress.

Moody’s expects Ghana’s debt to continue decreasing, though slowly, as the government resumes debt payments.

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