Dr Cassiel Ato Forson, the Finance Minister has assured Ghanaians this is just the beginning as Fitch Ratings has upgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from Restricted Default to ‘B-’ with a Stable Outlook.
Fitch Ratings signals a growing international confidence in the country’s economic recovery efforts.
Ghana’s inflation, which dropped from 23% in 2024 to 18.4% as of May 2025 is noted to be one of the key drivers behind the improved rating.
This comes on the back of the Ghana cedi’s strong recovery, appreciating against major foreign currencies.
The Ministry of Finance and the Bank of Ghana have been credited by Fitch for their strength in sound macroeconomic management and coordinated policy measures.
Reacting to Fitch’s upgrade, Ato Forson on X stated, “I assure you—this is only the beginning.
We are unwavering in our resolve to fully revive the economy and deliver lasting relief and shared prosperity to you, the good people of Ghana”.
Fitch Ratings upgrade will facilitate Ghana’s re-entry into global capital markets.
Meanwhile, the Fitch upgrade is a clear endorsement of the decisive fiscal and debt management measures led by Dr Cassiel Ato Forson.
See the post below:
I assure you—this is only the beginning.
We are unwavering in our resolve to fully revive the economy and deliver lasting relief and shared prosperity to you, the good people of Ghana. https://t.co/Ji8fbWHHuo.
— Cassiel Ato Forson (PhD) (@Cassielforson) June 16, 2025
