Home Politics Believe the process ; I will fix the economy – Nana Addo

Believe the process ; I will fix the economy – Nana Addo

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Believe the process ; I will fix the economy - Nana Addo

President Nana Addo Dankwa Akufo-Addo is certain Ghana’s economy will return regardless of the new downsize by global rating organization, Standard and Poor’s (S&P).

S&P last week downsized Ghana’s unfamiliar and nearby credit scores from B’ to CCC+C with a negative monetary standpoint.

As indicated by S&P, the downsize was because of heightening funding and outside pressures on the economy.

However, Nana Akufo-Addo says, in spite of the fact that he concedes times are troublesome, the monetary circumstance of the nation will pivot right away.
The President was talking on a nearby radio broadcast in Tamale.

“Indeed, the troubles are there, and I need to limit the hardships that are influencing the existences of normal individuals in an exceptionally bad manner. What I am expressing to individuals of Ghana is that, they ought to keep on having certainty,” the President said.

The Finance Ministry has, previously, communicated disillusionment at the FICO assessment organization’s choice.

It says in spite of the effect of worldwide outside shocks on the economy, government has gone to a few proactive lengths to resuscitate the economy.

It said some vital income and consumption measures, remembering the 30% cut for optional uses, have been carried out.

The President likewise accepts Ghana will effectively rise up out of these difficulties in the most brief conceivable time.

“Not entirely set in stone to manage the economy. We did it when I previously came into office, and not entirely set in stone and unequivocally of the conviction, that we can rehash it in light of the fact that the strategies are sound and are tied in with placing Ghana in a solid spot,” Nana Akufo-Addo pushed.

Before S&P’s downsize, Fitch had proactively minimized Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘B-‘ from ‘B’ and gave it a negative standpoint.

Moody’s Investors Service (Moody’s) additionally minimized Ghana’s drawn out guarantor and senior uncollateralized debt appraisals to Caa1 from B3 and changed the viewpoint to stable from negative.

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