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I'm Not Surprised At The Ratings; We Should Accept That We're Facing Difficult Challenges

The member of parliament for Afigya Kwabre North constituency, Collins Adomako Mensah has reacted to the recent downgrade by Fitch on the Ghana economy.

Speaking on Good Morning Ghana show on Metro TV this morning, the law maker revealed that he is not surprised with the downgrade of Ghana to "CCC".

"I have a little of Finance and I have the figures. I will not be surprised that rating agencies have begun to downgrade us. If you read the reasons for the downgrade, critical amongst them is our debts. The fact that we have failed as a country, we are very vulnerable to default" he said.

He also made it clear that the government is still committed to make sure that the economy is back on its feet. He added that the Fitch downgrade even predicted that Ghana will receive the IMF support in the next six months. According to him, it is a very good prediction and he hopes it comes to pass.

Click here to watch the video.

This comes after Ghana suffered another blow as its credit rating was downgraded by Fitch Ratings from B- to CCC. The rating did not come with an outlook because Fitch typically does not assign outlooks to ratings of ‘CCC+’ or below.

The rating in January by Fitch was "B-". Eight months down the line, the agency says the downgrade reflects the deterioration of Ghana’s public finances.

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Adomako Mensah Afigya Kwabre North Collins Good Morning Ghana Metro TV


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