The government says it will not be swollen-headed by the positive rating by the Standard & Poor’s.
The rating agency has upgraded Ghana’s credit score from ‘B’ minus to ‘B’ with a stable outlook.
In its latest release on the credit ratings of Ghana on Friday, 14th September, S&P Global indicated that “The upgrade reflects our assessment that Ghana's monetary policy effectiveness has improved, albeit from a low base, and will support the credibility of the inflation-targeting framework over the period”.
Speaking on the sidelines of Media Launch of the fourth National Policy Summit, Information Minister-Designate, Kojo Oppong Nkrumah, said Government welcomes the feedback from the international rating agency saying, “as we do with many of these publications, we consider it as feedback but it is a matter we have been speaking about in times past. We consider it as an affirmation of our submission that the economy of Ghana and its fundamentals are gradually getting better”.
“As you know, sovereign credit ratings are key evaluation principle for a country’s economic-political environment and it gives investors an insight into the level of risk or potential associated with any country,” he added.
He added that government will continue with the exercise of its strong monetary policy environment.
“Government will further improve the fiscal position by improving revenue, disciplining ourselves on the expenditure and ensuring that our deficit does not get out of hand,” the Information Minister –Designate said.
Ghana | Atinkaonline.com | Hughes Boateng