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Business News of Friday, 21 January 2022


Fitch downgrading an indication of mess this government has caused – Ato Forson

Ex-Deputy Finance Minister, Cassiel Ato Forson Ex-Deputy Finance Minister, Cassiel Ato Forson

Fitch downgrades Ghana credit rating from B to B-

There is a possibility of a CCC rating for Ghana by S&P and Moody’s – Ato Forson

Akufo-Addo’s government the only govt to be rated B- since 2003

Ex-Deputy Finance Minister, Cassiel Ato Forson, has stated that the downgrade of Ghana’s credit rating by Fitch Ratings was an indication of the economic chaos created by the government of President Nana Addo Dankwa Akufo-Addo.

According to Ato Forson, Ghana’s economy was a mess because of the economic mismanagement of the Akufo-Addo-led government.

In a tweet shared on his Twitter handle, the ex-deputy finance minister said: “This (B- rating) is the clearest indication of the mess this government’s economic mismanagement has brought upon Us!”

“S&P and Moody’s are yet to release their report! There’s a possibility of CCC rating soon!” he added.

A Standard & Poor's (S&P) CCC rating would imply that Ghana was at a very high level of risk of not being able to pay funds it borrows.

The ex-deputy minister, who is currently the member of parliament for Ajumako-Enyan-Esiam, shared a picture that showed that the Akufo-Addo led administration is the only government of Ghana that has been ranked B- by Fitch since 2003.

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