NPP Manifesto Moodys did not upgrade Ghana's economy - Bawumia

Dr Bawumia further advised President Mahama to rather stop acknowledging that Moodys upgraded Ghana’s economy and rather face the reality.

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The Running Mate of the New Patriotic Party (NPP) Dr Mahamudu Bawumia has said that International Credit rating agency Moody’s did not upgrade the rating of Ghana's economy.

He was speaking at the 2016 manifesto launch at the Trade Fair Center, La, in the Greater Accra Region. 

“Moody's did not upgrade Ghana's rating, the rating is still B-, it's only the outlook that's been.”

Dr Bawumia further advised President Mahama to rather stop acknowledging that Moodys upgraded Ghana’s economy and rather face the reality.

READ ALSO: Moody's rating on economy wrong - Nana Addo

“Let me give President John Mahama a free piece of advice - desist from saying Ghana's rating has been upgraded because it hasn't.”

International credit rating agency Moody’s has defined Ghana’s economy as stable, affirming it three with a B1 rating.

READ ALSO: My leadership caused Ghana's high ranking - Mahama

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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