General News of Thursday, 17 October 2013
The Government of Ghana has downplayed fears over the downgrading of the Ghanaian Economy from B+ to B by international credit and ratings firm Fitch.
This means Ghana’s credit worthiness has been downsized.
The firm attributes the downgrade to the sprawling wage bill and the country’s debt stock.
Some Ghanaian economists recently expressed concerns about the huge borrowing by the government and even warned that the country could soon plunge itself into HIPC.
A Deputy Minister of Information and Media Relations, Felix Kwakye Ofosu, told Journalists at the Flagstaff House on Thursday that the government is not surprised at the downgrade.
He said despite the downgrading, the government is pleased that Fitch indicated in its report that appropriate measures have been put in place to deal with the situation.