"Ghana's Economy Shows Strong Growth Prospects" - Moody's And S&P Affirm Ghana's Credit Rating

The Ministry of Finance has disclosed that two Credit Rating Agencies - Moody's Investor Services (Moody's) and Standard and Poor (S&P) has affirmed Ghana's Credit Rating at B3 and B- respectively.

According to the Finance Ministry, the Rating Agencies also maintained Ghana's outlook.

In a communique issued by the Public Relations Unit of the Ministry, it said "In making their decision, the credit rating agencies considered Ghana's improving growth prospects, resilent external sector performance, and continued access to the capital markets (domestic and international) as essential factors in maintaining the rating and the outlook"

The statement also noted that notably, the two rating agencies recognised the efforts of government to "build back better" through the innovative Ghana CARES (Obaatanpa) programme.

It also disclosed that both credit rating agencies acknowledged that Ghana's economy is recovering from the effects of the pandemic faster than its peers.

Below are a copies of the release:

Story by: Joshua Kwabena Smith