The Minority in Parliament has pushed back against the ruling National Democratic Congress (NDC), claiming that Ghana’s recent Fitch credit rating upgrade is a result of policies and reforms initiated under the previous New Patriotic Party (NPP) government.
At a press briefing led by Dr. Mohammed Amin Adam, former Finance Minister and Ranking Member of the Finance Committee, the Minority acknowledged Fitch’s move to upgrade Ghana’s rating from “Restricted Default” to “B−” with a stable outlook. However, they cautioned the current government against taking credit for the improvement.
They argued that the rating upgrade stems from economic foundations laid prior to the NDC’s assumption of office.
Fitch’s assessment, published earlier, highlighted Ghana’s successful external debt restructuring in October 2024—covering over $13 billion in Eurobonds—as a major factor behind the improved rating. The agency also noted positive developments in the country’s current account surplus and declining inflation.
Dr. Amin Adam emphasized that these outcomes were made possible by significant reforms and measures undertaken during the NPP administration, asserting that the current government is merely benefiting from that legacy.
