Mahama hails Fitch upgrade as proof of Ghana’s economic recovery
By Praisebell Rosemond Larbi
President John Dramani Mahama says Fitch’s decision to upgrade Ghana’s credit rating from ‘Restricted Default’ to ‘B-’ with a Stable Outlook is a strong reflection of his administration’s prudent fiscal and debt management, alongside marked improvements in domestic revenue mobilization.
He made these comments while addressing the Ghana–European Union Partnership Dialogue in Accra on Tuesday, June 17, 2025. President Mahama explained that the upward revision signals growing confidence in Ghana’s ongoing economic recovery and policy direction under his leadership.
He further assured Ghanaians and the international community that his government is working diligently to consolidate these gains and foster greater stability and sustained growth in the country’s financial landscape.
The President stressed that the improved rating not only helps reduce borrowing costs for the country but also strengthens investor confidence, making Ghana a more attractive destination for investment and business. This, in turn, is expected to create employment, boost production, and expand the country’s revenue base.
He reiterated his administration’s commitment to financial discipline, strong revenue generation, and responsible borrowing, adding that these measures collectively support efforts to place the economy on a sustainable path.
President Mahama noted that, in recent months, the government has implemented a range of policy interventions aimed at strengthening the financial framework and ensuring greater long-term stability. These include tighter expenditure controls, enhanced oversight of financial institutions, and a clearer policy framework to guide borrowing and debt repayments.
He highlighted the significance of the international affirmation by Fitch, describing it as a powerful endorsement of the policy choices made by his administration.
“This is a clear sign that we are turning a corner and making strong progress toward recovery and stability. Our aim is to enable Ghanaians to enjoy the benefits of a growing, resilient, and robust economy that can provide opportunity for all,” President Mahama said.
He called on all stakeholders, including financial institutions, businesses, civil society groups, and ordinary Ghanaians — to collaborate in maintaining the momentum and contribute to building a more stable and thriving economic future for the country.
