What went wrong in Ghana: how credit ratings contributed to the economic challenges?

Misheck Mutize ()
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Misheck Mutize: African Union Support Program

Development Finance Agenda, 2022, vol. 7, issue 3, 14-15

Abstract: In 2019, Ghana was the world’s fastest growing economy and the government of President Nana Akufo Addo was being praised globally for steering country’s economy in the right path. Good governance, shift to sustainable development and commitment to reform, were cited amongst the key driving factors to this success. Even during the preliminary phases of the outbreak of the Covid-19 pandemic in Africa, when many developing countries were struggling to cope with the initial economic shocks, Ghana’s economy remained in steady growth. However, the story of Ghana had a sudden change in the second half of 2021, when investor confidence and optimism in Ghana’s economy plummeted.

Date: 2022
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