Growing track record of political stability that supports solid economic growth Low national debt following relief, from the highly Indebted Poor Countries (HIPC) initiative and the Multilateral Debt Relief Initiative (MDRI) The prospect of nationally significant oil production volumes bolstering the fiscal and external accounts Low economic development and a narrow economic profile Weak fiscal and current account balances, despite the assistance of donors Still-high inflation The ratings on the Republic of Ghana (B+/Stable/B) are constrained by a narrow economic base, low development, and a widening of fiscal and current account balances, despite the considerable support of donors. The ratings are supported, however, by a comparatively stable political system, and the easing of external and fiscal balance-sheet pressures following various
