• Live Radio
  • Videos
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Live Radio
    • Photos
  • Election 2020
Local News
 
 
 
Home Politics Politics 202202

Moody's Rating: How Can You Sit In Your Office And Downgrade Us - Dep. Minister Fumes

08-Feb-2022
/ Politics, Politics
Email
Print
Comments 6
(6)
Comments
Share on Facebook Share on Twitter
 

A Deputy Finance Minister, Lawyer John Kumah, believes there is a grand scheme to force Ghana into accepting financial intervention from the International Monetary Fund.

To John Kumah, the assessment done by international economic ratings firm, Moody’s, cannot be said to be accurate since no representative has been to town to have a first-hand information about the country's economy.

Moody’s has downgraded  Ghana’s long-term issuer and senior unsecured debt ratings to Caa1 from B3.

Ghana’s outlook has also been moved to stable from negative.

Moody’s projects that Ghana’s government debt ratios will continue to deteriorate in the next few years with extremely weak debt affordability significantly constraining policymaking.

Moody’s estimates that government debt ended 2021 at 80% of GDP while interest payments alone consumed half of government revenue that year (positioning Ghana with the second largest ratio among Moody’s rated sovereigns).

But speaking on Okay Fm's Ade Akye Abia programme, he explained that Moody has no credibility to disclose or rate Ghana's financial standing because they have not even visited the country to understudy the country's financial and fiscal policy.

".....they lack knowledge about the country's economy.....How can you sit behind your computer somewhere in your office and decide to rate a country you have not even visited and have no knowledge about our financial standing? he quizzed.

To him, the country needs to be patted on the back for the way it has handled its affairs relative to the pandemic.
 
"Covid 19 has really destabilized a lot of country's financial standing. Even the UK is reeling under serious economic hardship so if Ghana has been able to manage its economy properly in these hard Covid times, you cannot give us a negative rating," John Kumah argued.

Watch Video Below

Source: Isaac Kwame Owusu/Peacefmonline/[email protected]

 

 
 

 

Comments ( 6 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

Be Innovative - Dan Botwe Urges MMDCEs

Next Post

'Problematic' Adwoa Safo Has Gone AWOL; She Wants To Sabotage And Blackmail NPP – NPP MP Alleges

 
 

More Stories

NPP Regional Elections: Surprises Await Candidates
Terrorism: "See Something Say Something" Shouldn't Just Be a Slogan - Kwamena Duncan Tells Kan-Dapaah, Others
I Forgive MPs Who Criticised My Absence From Parliament - Adwoa Safo
Prez Akufo Addo Is Aware Of Everything Happening…I've Not Abandoned My Duties - Adwoa Safo
I'll Return Once Everything With My Son Is "Sorted Out" - Adwoa Safo
I Know The Rules...I've Not Received Official Communication - Adwoa Safo On Privileges Committee
21 Out Of 25 NPP MPs Support Jeff Konadu For Eastern Regional Chairman
You Don't Do Experiment When You Want To Break The 8 - Prominent Lawyer Makes Case For Wontumi's Retention
Henry Quartey Is Losing His 'Fire' - Dr. Benjamin Otchere-Ankrah Asks G/Accra Minister To Wake-up
Next Post

'Problematic' Adwoa Safo Has Gone AWOL; She Wants To Sabotage And Blackmail NPP – NPP MP Alleges

  Ghana Politcs

  • Politics
  • Election News
  • Parliament
  • 2020 Elections


 
 

Other Politics Stories

  • NPP Regional Elections: Surprises Await Candidates

  • Terrorism: "See Something Say Something" Shouldn't Just Be a Slogan - Kwamena Duncan Tells Kan-Dapaah, Others

  • I Forgive MPs Who Criticised My Absence From Parliament - Adwoa Safo

  • Prez Akufo Addo Is Aware Of Everything Happening…I've Not Abandoned My Duties - Adwoa Safo

  • I'll Return Once Everything With My Son Is "Sorted Out" - Adwoa Safo

  • I Know The Rules...I've Not Received Official Communication - Adwoa Safo On Privileges Committee

  • 21 Out Of 25 NPP MPs Support Jeff Konadu For Eastern Regional Chairman

  • You Don't Do Experiment When You Want To Break The 8 - Prominent Lawyer Makes Case For Wontumi's Retention

  • Henry Quartey Is Losing His 'Fire' - Dr. Benjamin Otchere-Ankrah Asks G/Accra Minister To Wake-up

  • Sanction Those Who Have Illegally Acquired Lands In The Achimota Forest - John Boadu

 

 
 

Popular Videos

Kokrokoo Live On Peace 104.3 FM (23/05/2022)

Kokrokoo Discussion Segment On Peace 104.3 FM (24/05/2022)

Kokrokoo Discussion Segment On Peace 104.3 FM (25/05/2022)

Peace Power Sports (23/05/2022)

Akan News @ 6pm On Peace 104.3 FM (23/05/2022)

Kokrokoo Live On Peace 104.3 FM (24/05/2022)

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Live Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Live Radio
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media