NPP Manifesto Moody's did not upgrade Ghana; Stop the lies - Bawumia

“Moody's did not upgrade Ghana's rating, the rating is still B-, it's only the outlook that's been revised,” Dr Bawumia said at the launch of the party manifesto in Accra on Sunday.

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The Vice presidential nominee of the New Patriotic Party, Dr Mahamadu Bawumia has chastised government for suggesting that International Credit rating agency, Moody’s recent ratings show an upgrade in the country’s economy.

“Moody's did not upgrade Ghana's rating, the rating is still B-, it's only the outlook that's been revised,” Dr Bawumia said at the launch of the party manifesto in Accra on Sunday.

President Mahama had earlier indicated that Moody’s rated Ghana’s economy as stable due to the good governance of the NDC-led administration.

“Our country is respected in the international community and everybody recognises that. Ghana is rising, Ghana is doing well. In my absence we were pleased to hear that Moody’s credit rating agency has upgraded Ghana, it shows that we are doing something right and we are pleased about the way things are happening."

But Dr Bawumia disagrees, and has asked President Mahama to “desist from saying Ghana's rating has been upgraded because it hasn't.”

Since 2015, Moody’s has rated the Ghanaian economy at B3/ negative.

The latest decision to rate the economy stable, Moody’s said in a statement, was informed by three key drivers.

The first is the country’s debt reduction and reforms. The second is a reduction in government liquidity risk and the third is improved the balance of payment dynamics and development in the country’s oil and gas sector.

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