{"id":574459,"date":"2026-05-09T09:19:08","date_gmt":"2026-05-09T09:19:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/574459\/"},"modified":"2026-05-09T09:19:08","modified_gmt":"2026-05-09T09:19:08","slug":"fitch-upgrades-ghanas-credit-rating-in-the-midst-of-global-uncertainty","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/574459\/","title":{"rendered":"Fitch upgrades Ghana’s credit rating in the midst of global uncertainty"},"content":{"rendered":"

\"Finance <\/a>Finance Minister, Dr Cassiel Ato Forson<\/p>\n

Ghana\u2019s sovereign credit profile has received a major boost after Fitch Ratings upgraded the country\u2019s Long-Term Foreign-Currency Issuer Default Rating from B- to B, with a Positive Outlook, citing strong economic growth, sharp debt reduction, fiscal discipline, and rising international reserves.<\/p>\n

The upgrade, announced on Friday, comes as Ghana continues to implement reforms aimed at restoring macroeconomic stability following the country\u2019s recent debt restructuring programme.<\/p>\n

\u201cEven in the midst of global uncertainty and economic turbulence, Fitch has upgraded Ghana\u2019s credit rating from B- to B,\u201d the international ratings agency said in its latest assessment.<\/p>\n

According to Fitch, the upgrade reflects \u201ca sharp fall in public debt\/GDP, supported by robust real GDP growth, substantial fiscal consolidation efforts and currency appreciation, and a marked increase in international reserves that lowers external liquidity risks.\u201d<\/p>\n

The agency projected that Ghana\u2019s public debt will continue to decline to 46% of GDP by 2027, below the median forecast for countries rated in the B category.<\/p>\n

Fitch also pointed to Ghana\u2019s improving external position, noting that strong current account surpluses, foreign direct investment inflows, and support from multilateral institutions are expected to push international reserves to the equivalent of 4.8 months of external payments by 2027.<\/p>\n

The ratings agency disclosed that Ghana\u2019s unencumbered reserves increased by US$5.4 billion in 2025 to US$12.3 billion.<\/p>\n

Wisdom Gomashie appointed Co-Chair of NPP environmental committee<\/a><\/p>\n

The report further highlighted Ghana\u2019s record current account surplus of 8.2% of GDP in 2025, supported largely by strong gold exports and favourable global gold prices.<\/p>\n

On fiscal performance, Fitch said Ghana is expected to maintain primary fiscal surpluses of 1.5% of GDP in both 2026 and 2027, following a record 2.9% surplus in 2025.<\/p>\n

\u201cGhana has significantly improved public financial management, and this lowers the risk of short-term fiscal slippages,\u201d Fitch stated.<\/p>\n

The agency also cited declining inflation and stronger economic growth as key factors underpinning the upgrade.<\/p>\n

Inflation, which fell to 3.2% in March 2026 \u2014 its lowest level since 1999 \u2014 was described as evidence of improving macroeconomic stability.<\/p>\n

Fitch expects Ghana\u2019s economy to maintain strong growth through 2027, averaging about 5%, driven by gold mining, improved consumer confidence, lower inflation, and easing borrowing costs.<\/p>\n

Despite the positive outlook, Fitch cautioned that Ghana still faces challenges, particularly high debt servicing costs and vulnerability to external shocks.<\/p>\n

The agency warned that weaker fiscal performance, rising inflation, or failure to continue building external reserves could negatively affect the rating in future.<\/p>\n

However, Fitch indicated that continued fiscal prudence, sustained reforms, and stronger reserve accumulation could lead to further upgrades in the coming years.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Finance Minister, Dr Cassiel Ato Forson Ghana\u2019s sovereign credit profile has received a major boost after Fitch Ratings…\n","protected":false},"author":2,"featured_media":574460,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-574459","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/574459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=574459"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/574459\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/574460"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=574459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=574459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=574459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}