Business News of Thursday, 13 August 2026

Source: www.ghanaweb.com

'Ghana's economic recovery offers NPP little room to give lessons' – Joyce Bawah

Senior Presidential Advisor Joyce Bawah Mogtari Senior Presidential Advisor Joyce Bawah Mogtari

Senior Presidential Advisor Joyce Bawah Mogtari has argued that the New Patriotic Party (NPP) has little to offer in terms of lessons on economic management, insisting that Ghana is making progress under the current administration.

In a post shared on X on August 13, 2026, Joyce Bawah Mogtari said the government led by President John Dramani Mahama had made significant strides in managing the economy under the leadership of Finance Minister Cassiel Ato Forson.

“As things stand now, and in view of the giant strides that this government led by President John Dramani Mahama and carefully and professionally managed by Cassiel Forson, we really shouldn’t be taking any lessons from any individual or individuals in the NPP on or about the economy or management of the economy,” she wrote.

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She maintained that the country was “finally making progress” and called on Ghanaians to support the government.

“Ghana is finally making progress and we call on all right-thinking Ghanaians to support our leaders,” she added.

Her comments come amid ongoing political debate over the management of Ghana’s economy, with the government highlighting improvements in key economic indicators and its efforts to restore macroeconomic stability.

Recent assessments by international credit rating agencies have also pointed to improvements in Ghana’s fiscal and external position. In May 2026, Fitch Ratings upgraded Ghana’s sovereign rating from ‘B-’ to ‘B’ with a Positive Outlook, citing fiscal consolidation, stronger economic growth, a decline in public debt and improved international reserves.

Fitch’s upgrade followed a positive revision by Moody’s, which moved Ghana’s outlook from ‘Stable’ to ‘Positive’ in April 2026. Moody’s cited improvements in domestic financing conditions, declining financing costs and a strengthening fiscal position, although it retained Ghana’s rating at ‘Caa1’.

Additionally, S&P Global Ratings affirmed Ghana’s ‘B-/B’ sovereign ratings with a Stable Outlook in March 2026. The agency said strong GDP growth and robust export volumes had boosted Ghana’s foreign exchange reserves, while new fiscal rules and improved public financial management were expected to keep fiscal deficits more contained.

S&P also noted that Ghana’s economy expanded by 6% in 2025, with growth described as broad-based and supported by improving macroeconomic conditions, including a more stable currency and lower inflation.

The latest developments have been cited by the government as evidence that its economic recovery programme is beginning to restore investor and international market confidence.

However, the rating agencies have also cautioned that Ghana remains exposed to risks, including high debt-servicing costs, commodity price volatility and the need to sustain fiscal reforms.

Against this backdrop, Joyce Bawah Mogtari urged Ghanaians to support the government’s efforts, arguing that the economic recovery should be recognised rather than undermined by political criticism.



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