The Finance Minister, Dr. Cassiel Ato Forson says he expects ratings agencies, Moody’s and S&P to upgrade Ghana’s sovereign credit rating from the current B-.

Highlighting the economic gains chalked by the Mahama-led administration while addressing parliament during the 2025 Mid-Year budget Review, Dr.Forson stated that “this is just the beginning, we are determined to do better than B-, Ghana deserves better than B-.”

On June 16, 2025, Fitch Ratings upgraded Ghana’s long term foreign currency issuer ratings to B- with the stable outlook from restricted default. The international ratings agency cited significant exchange rate appreciation, declining debt levels, increased reserve accumulation, and strong nominal Gross Domestic Product (GDP) growth as reasons for the upgraded.

However, the Finance Minister believes Ghana deserves better, stressing the expectation of a further improved review. “It is expected that other rating agencies, namely Moody’s and S&P will follow suit given the remarkable progress we are making in ensuring economic stability and promoting economic growth.”

He outlined measures to ensure continuous economic growth.

“We will maintain fiscal discipline through continued implementation for prudent policies to promote fiscal and debt sustainability. We will continue the aggressive revenue mobilization by strengthening tax collection systems and broaden the tax base to increase domestic revenue without over burdening the citizens. We will accelerate structural reforms in public financial management including transparency and accountability measures.”

“We will diversify the economy through investment in sectors beyond traditional exports to reduce vulnerability to commodity price shocks”, he said.