Dr. Theophilus Acheampong
Dr. Theophilus Acheampong, an economist and political risk analyst, has hailed the Fitch Ratings upgrade of Ghana’s economic outlook as a major endorsement of the country’s ongoing economic turnaround.
According to Dr. Acheampong, the upgrade from ‘Restricted Default’ to ‘B-‘ with a Stable Outlook is a significant vote of confidence in Ghana’s economic recovery efforts.
“This is a major endorsement of Ghana’s ongoing economic turnaround,” Dr. Acheampong said. “I expect other ratings agencies to follow suit in the coming weeks during their normal ratings cycle assessment. We must stay the course on fiscal discipline” he wrote on his Facebook page.
The upgrade was attributed to Ghana’s successful restructuring of $13.1 billion in Eurobond debt, steady fiscal consolidation, and the country’s improving macroeconomic outlook. Fitch also highlighted falling inflation, a strengthening cedi, and a rebound in investor confidence as key indicators of Ghana’s economic turnaround.
The upgrade is expected to boost Ghana’s credibility with international investors, facilitate re-entry into global capital markets, ease borrowing costs, and attract renewed investment across key sectors.
With inflation projected to average 15% in 2025 and 10% in 2026, and real GDP growth expected to remain solid at 4% in 2025 and 4.5% in 2026, Ghana’s economic outlook appears promising.