Reactions As Expert Blames Government’s Refusal to Listen To Warnings As Cause Of Ghana’s Downgrade

Readers can recall how Ghana was downgraded in the latest release by Standard and Poor’s Global rating from B- to CCC+.

The American Credit Rating Agency has indicated that the Ghanaian economic situation has worsened as the need for foreign currency keeps accelerating whilst external debts keep rising.

The Minority in Parliament led by NDC Member of Parliament Cassiel Ato Forson, the government’s actions and inactions have worsened the plights of the sovereign country and he would not be surprised ranking even worsens further from CCC+ to D+ in March 2023.

It seems there are a lot of red flags that the government has overlooked and this is not good for the country.

Experts have blamed the unexpected downgrade on the government’s inability to institute the right economic measures.

Bright Simons is the Vice President, in charge of research at the IMANI centre for policy and education. He is a product of Presbyterian Boys High School, Legon and Durham University. Bright also doubles as the Founder and President of pedigree.

According to Bright Simons, Ghana’s downgrade is the product of the government’s refusal to listen to warnings.

His remarks have attracted reactions from the length and breadth of the country and there seems to be a great sign of disappointment amongst Ghanaians.

Other Ghanaians have affirmed the downgrade would mean nothing to the good people of Ghana if the government has put in measures to protect or strengthen local industries. It is believed that the country would face some of these ranking issues if more investment has been allocated to long-term development plans targeted at growing the economy.

Some Ghanaians have advised that the Vice President and the economic management team should put in immediate steps to correct all anomalies.

What are your thoughts on the ongoing discussion?

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