Fitch Rating, an international has revealed the performances of the Ghanaian economy right from Former President John Agyekum Kuffour to the current government led by His Excellency Nana Addo Dankwa Akufo-Addo respectively.
Fitch Ratings is an international credit rating agency based out of New York City and London, that satisfies in-depth analysis into economies and companies generating their total performances.
Fitch bases the ratings on factors, such as what kind of debt a company holds, rational running income flow, and how sensitive it is to systemic changes like interest rates.
With Fitch's country risk industry research that Identifies opportunities and navigates risks in markets where high-quality information is hard to find and difficult to interpret, with authoritative, in-depth coverage, fitch finds the current Nana Addo and Bawumia led administration performing more poorly than its predecessor.
With released data from their mechanisms, the economy is not rubbing shoulders in the world market hence will make it difficult for substantial investors to set up long-lasting business endeavors.
Fitch Ratings has predicted that economic growth will return to trend as vaccination programs progress, boosting consumer confidence, but vulnerabilities resulting from the pandemic such as wide current account and fiscal deficits, and elevated levels of joblessness will persist.
Monetary policy tightening will accelerate despite moderating inflation. Governments will also continue to prioritize fiscal consolidation following a substantial widening of budget deficits and a sharp rise in debt loads in 2020. Meanwhile, currencies will depreciate after a performance in 2021.
We expect political temperatures to rise across the region given increased levels of public dissatisfaction over service delivery, and tensions arising from elections in several major economies.
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