Rating agency, Standards and Poor's (S&P) Global, has raised Ghana's long-term local and foreign currency sovereign credit rating to 'B' from 'B-.'
In a statement released on September 14, S&P Global said "the upgrade reflects our assessment that Ghana's monetary policy effectiveness has improved, albeit from a low base, and will support the credibility of the inflation-targeting framework over the period."
It further cited the improving banking sector stability and lower inflation as factors that supported its view that the effectiveness and transmission mechanism of the country's monetary policy have improved.
The agency also revised its transfer and convertibility (T&C) assessment to 'B+' from 'B
It cited the improving banking sector stability and lower inflation as factors that supported its view that the effectiveness and transmission mechanism of the country's monetary policy have improved, hence the decision to revise the T&C from 'B' to 'B+'
The new rating is expected to endear the economy to global investors, as it potents increased faith in its activities by the rating agency. This should translate into reduced risk in domestic investments and increased appetite for same by investors.
Source: Graphic.com
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@ Yaw what was Ken Ofori Atta's roLe in the Kufuor Government for him paid S&P to upgrade Ghana. Kindly share the evidence to prove our assertion.
@Yaw: How can you 1ie like this? After sitting behind your computer and telling such wicked 1ie coming to lie you will then carry your bible to church. God is watching you
@Yaw, you seem to forget this old akan proverb which states that if a fetish priest wishes bad for his village, he should not forget that he also lives there. All I am telling you is even though we may belong to the opposite side of government we should sometimes wish well for Ghana. The banks does not ask for party affiliations before giving out loans nor the doctor asking for party affiliations before healing in times of sickness. we should sometimes think about ouselves forgetting the politrictians
Remember when in the Kufuor years this same Ken Ofori Atta paid the same S&P to upgrade Ghana??? Why will any sensible person buy this ***barred word***???