Audio By Carbonatix
PM Express host, Evans Mensah, and his panellists on Tuesday evening discussed the several downgrades that have hit Ghana’s credit rating from a B with a negative outlook from Fitch to a C with a stable outlook from Moody’s.
The show focused on the everyday 'kenkey' and fish analysis of the development as government is challenging the downgrades, referring to them as injurious to the economy of Ghana.
In an official statement, government explained that the forecast and projections had an inaccurate balance of payments statistics, lack of supporting quantitative analysis, or data on Environmental, Social, and governance credentials.
It also complained about the “omission” of key material information such as the 2022 Budget expenditure control measures – 2022 upfront fiscal adjustments.
However, what are the implications of these downgrades on the common folk?
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