Moody’s Rating Shows Ghana Is Doing Well – Prez Mahama

President John Dramani Mahama has indicated that the country’s recent rating by Moody’s is an indication that government is doing something right. According to him, the positive outcome of the bilateral talks and negotiations on his recent visit to the United Nations General Assembly and France, points to the goodwill and strong image Ghana has among her peers.

President Mahama made these comments on his return to Accra last night, from the United Nations and UNESCO meetings. “Our country is respected in the international community and everybody recognizes that. Ghana is rising, Ghana is doing well. In my absence we were pleased to hear that Moody’s credit rating agency has upgraded Ghana, it shows that we are doing something right and we are pleased about the way things are happening.

Let us continue to work together as one nation, lets believe in ourselves and I believe that, more than the sky is the limit,” he added. Moody’s revises Ghana’s bond ratings International credit ratings Agency, Moody’s, revised the outlook on Ghana’s Long Term Bond Ratings from Negative to Stable this week. 

The rating agency also affirmed the rating at B3. Moody’s cited significant fiscal deficit reduction and success in implementing structural reforms over the past year, as well as reduced government liquidity risk on the external side, following the issuance of the US$750m Eurobond, the proceeds of which are earmarked for debt repayments as some of the key drivers for the stabilization.