Ghana: Fitch Lifts Ghana Credit Rating As Recovery Gains Ground

Fitch Ratings upgraded Ghana’s sovereign credit rating to B from B- on May 8, giving the country another sign of recovery after its debt crisis.

The rating agency assigned a positive outlook, meaning another upgrade is possible if Ghana keeps spending under control, lowers inflation and builds foreign exchange reserves. The move follows earlier rating improvements as the country normalizes after default and debt restructuring.

Fitch pointed to a sharp fall in public debt, stronger growth, fiscal…