LONDON (Standard&Poor's) March 24, 2006--Standard&Poor's Ratings Services said today it affirmed its 'B+' long-term and 'B' short-term sovereign credit ratings on the Republic of Ghana. The outlook is stable. "The ratings on Ghana balance the benefits of ongoing political and macroeconomic stabilization against the increased need for structural reforms and for the stimulation of the private sector," said Standard&Poor's credit analyst Tim Reid. The ratings on Ghana are supported by the entrenchment of political and macroeconomic stability, which withstood the elections of late 2004 as well as the deregulation of fuel prices in February 2005. The widespread confidence in Ghana's stability is most vividly illustrated by the ongoing increase in remittance inflows to more
