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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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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.

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

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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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