Rating agency Fitch has upgraded Ghana's credit rating from "limited default" to "B-", saying the country has normalized relations with a significant majority of its foreign commercial creditors. This was learned from an official note released yesterday by Fitch, which assigned the African country a "stable" outlook.Ghana is recovering from its most severe economic crisis in decades, after facing challenges in its key cocoa and gold sectors, which forced the government to restructure its debt: “We expect Ghana to complete the restructuring of its external debt by the end of 2025,” Fitch said in its report.Ghana’s Finance Minister Cassiel Ato Forson announced in March that the new government would make sharp spending cuts this year to boost the economy. In May, ratings agency S&P Ratings downgraded Ghana’s foreign currency issuer rating from “selective default” to “CCC+,” citing improving creditworthiness as the debt restructuring nears completion.President John Dramani Mahama, who took office in January, has promised to revive the economy and create jobs. (ICE ACCRA)

Fonte notizia: Info Africa