Ghana's Economy Moody's rating on economy wrong - Nana Addo

International credit rating agency Moody’s has defined Ghana’s economy as stable, affirming it three with a B1 rating.

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International Credit Ratings Agency Moody’s recent description of Ghana’s economy as stable is inaccurate.

This is according to the Presidential nominee for the New Patriotic Party (NPP) Nana Akufo Addo.

He was speaking at the campaign launch of the parliamentary nominee for the Weija-Gbawe constituency, Tina Mensah in Accra, Nana Addo said Moody’s did not consider the actual challenges Ghanaians are facing hence the need to disregard such ratings.

“Is NDC taking the massive unemployment rate in our country into account? This is not the way that the Ghanaian people want to be governed. They expect to be governed with truth not with deception, with honesty and not with lies, with policy and not with propaganda.”

READ ALSO: Moody’s rates economy stable

Meanwhile, President Mahama earlier indicated that Moody’s rated Ghana’s economy as stable due to the good governance of the NDC-led administration.

“Our country is respected in the international community and everybody recognises that. Ghana is rising, Ghana is doing well. In my absence we were pleased to hear that Moody’s credit rating agency has upgraded Ghana, it shows that we are doing something right and we are pleased about the way things are happening."

READ ALSO: Terkper hails Moody’s rating

International credit rating agency Moody’s has defined Ghana’s economy as stable, affirming it three with a B1 rating.

Since 2015, Moody’s has rated the Ghanaian economy at B3/ negative.

The latest decision to rate the economy stable, Moody’s said in a statement, was informed by three key drivers.

The first is the country’s debt reduction and reforms. The second is a reduction in government liquidity risk and the third is improved the balance of payment dynamics and development in the country’s oil and gas sector.

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