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Friday, August 19, 2022

Ken Ofori Atta ‘Exposed’ Again As Major Economy Ratings Agency Downgrades Ghana Again

All isn’t certainly well with the Ghanaians economy. The Akufo-Addo led government after a long resistance run to the International Monetary Fund for financial bailout some weeks ago. However, in the interim Ghana keeps slumping on international economy ratings. The government has been criticized for mismanaging the coffers of the country.

This assertion has been debunked by the government who have blamed everyone except themselves for how the economy of Ghana has turned out. International rating agencies like Moody’s have already downgraded Ghana’s economy. Yet the government headed by the head of the economic management team Vice President Bawumia and Ken Ofori Atta have insisted that the economy is on track to delivering the needed results.

Well another Credit rating site, Standard and Poor’s have also delivered their verdict. It can be recalled that in February 2022 the agency rated Ghana at B- despite other agencies rating Ghana lower. In a latest development Ghana has dropped to CCC+ from B-.

In a post on Facebook, Dzifa Gunu has displayed the latest ratings from S&P on Ghana’s economic outlook. The research shows that the outlook of the economy is no more stable but now rated as Negative. In summary the agency noted that Ghana doesn’t have the hand to deal in the external capital markets. The country is also financially constrained internally. The site concluded that the Ghanaian economy has suffered major shocks with the reserves of the country not able to sustain the country.

This rating will be a slap on the face for the Finance minister who has resisted all calls to resign. During the NPP delegates conference the minister said he was not ready to resign because all was well. In another latest interview when asked if Jesus will be happy with the way he had handled the economy the minister noted that he wasn’t Jesus to know whether he was happy or not.

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Akufo-Addo
Dzifa Gunu
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Ken Ofori Atta
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