Mahama Celebrates Fitch Upgrade as Signal of Ghana’s Economic Comeback
President touts improved credit rating as evidence of policy success and renewed investor trust in Ghana’s economic direction
- Fitch upgrades Ghana’s credit rating from ‘Restricted Default’ to B- with a Stable Outlook
- President Mahama credits the rebound to fiscal discipline
- Government continues policy reforms to boost transparency, efficiency, and economic resilience
President John Dramani Mahama has welcomed the latest credit rating upgrade from global agency Fitch as a strong indication of Ghana’s economic turnaround and growing investor confidence.
Fitch Ratings, on Tuesday, June 17, elevated Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘Restricted Default’ to ‘B-’ with a Stable Outlook — a move Mahama described as recognition of the government’s ongoing efforts to stabilize the economy.
Speaking during the Ghana-European Union Partnership Dialogue, the president emphasized that the upgrade validates the nation’s progress toward economic recovery, driven by targeted fiscal reforms and sound macroeconomic policies.
“Ghana’s economic outlook continues to improve steadily,” Mahama said. “Our government remains dedicated to restoring macroeconomic stability through disciplined fiscal management, enhanced domestic revenue mobilization, and prudent spending. In collaboration with the Bank of Ghana, we are addressing inflation, stabilizing the Cedi, and implementing strategic debt restructuring to rebuild confidence in our economy.”
He further highlighted ongoing regulatory and institutional reforms aimed at reducing inefficiencies and boosting transparency, noting that such measures are expanding fiscal capacity and creating a more resilient economic foundation.
