Ghana 'B/B' Ratings Affirmed; Outlook Stable

OVERVIEW We expect the Ghanaian government will take advantage of relatively strong growth prospects and increased oil production to implement corrective fiscal measures, but that public finances and external accounts will remain under pressure. We are therefore affirming our 'B/B' long- and short-term sovereign credit ratings on Ghana. The outlook remains stable. RATING ACTION On March 15, 2019, S&P Global Ratings affirmed its 'B/B' long- and short-term foreign and local sovereign credit ratings on Ghana. The outlook is stable. OUTLOOK The stable outlook balances Ghana's fairly strong growth prospects and relatively narrow current account deficits against risks from still-sizable budget deficits and a high stock of general government debt. We could take a negative action if the effectiveness of Ghana's

...OVERVIEW + We expect the Ghanaian government will take advantage of relatively strong growth prospects and increased oil production to implement corrective fiscal measures, but that public finances and external accounts will remain under pressure. + We are therefore affirming our 'B/B' long- and short-term sovereign credit ratings on Ghana. + The outlook remains stable. RATING ACTION On March 15, 2019, S&P Global Ratings affirmed its 'B/B' long- and short-term foreign and local sovereign credit ratings on Ghana. The outlook is stable. OUTLOOK The stable outlook balances Ghana's fairly strong growth prospects and relatively narrow current account deficits against risks from still-sizable budget deficits and a high stock of general government debt. We could take a negative action if the effectiveness of Ghana's policymaking weakened, for example if fiscal deficits were materially larger than our expectations, resulting in still-high debt levels....

Ratings Action