Finance Minister Dr. Cassiel Ato Forson has hailed Fitch Ratings’ upgrade of Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘Restricted Default’ to ‘B-’ with a Stable Outlook.
He described it as a strong indication of restored confidence in the nation’s economic trajectory.
The international ratings agency cited Ghana’s successful restructuring of US$13.1 billion in Eurobond debt, continued fiscal consolidation, and an improving macroeconomic environment as key reasons for the upgrade.
Fitch specifically pointed to the consistent drop in inflation, the strengthening of the Ghanaian cedi, and a rebound in investor confidence as clear signs of the country’s economic recovery.
Responding to the announcement on his official X (formerly Twitter) page, Dr. Forson emphasized that this marks just the beginning, reaffirming his strong commitment to fully reviving the economy and bringing lasting relief and inclusive prosperity to all Ghanaians.
Recent data reveals a sharp decline in inflation, which has fallen from a peak of over 50% in early 2023 to 18.4% as of May 2025, the lowest level in more than three years.
Fitch forecasts that this downward trend will persist, with inflation expected to ease to 15% by the end of 2025 and further to 10% in 2026.
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Source: Eric Sekyi/ATLFMNEWS
