Audio By Carbonatix
The Minority in Parliament has criticised the current National Democratic Congress (NDC) government, insisting that the latest Fitch sovereign rating upgrade is rooted in the economic performance of the previous New Patriotic Party (NPP) administration.
In a press briefing led by Dr. Mohammed Amin Adam, former Finance Minister and Ranking Member of Parliament’s Finance Committee, the Minority welcomed the rating upgrade from “Restricted Default” to “B−” with a stable outlook, but cautioned the NDC against claiming credit for it.
They argue on Tuesday that the upgrade reflects macroeconomic groundwork laid before the transition of power.
According to Fitch, the rating boost recognized Ghana's successful debt restructuring in October 2024, which involved over $13 billion in Eurobonds and significantly reduced the country’s debt burden.
The agency further pointed to improvements in Ghana’s current account surplus and inflation trajectory.
Dr. Amin Adam asserted that these milestones were achieved under the governance of the NPP.
He stressed that key reforms were implemented during the previous administration to help achieve this milestone.
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