Ghana’s Credit Rating Upgraded by Fitch on Improved Finances

Fitch Ratings upgraded Ghana’s sovereign credit rating on the government’s improved fiscal management and increased foreign reserves, even as the war in the Middle East threatens to derail the nation’s economic recovery.

The country’s long-term foreign currency debt was raised to B from B- with a positive outlook, the ratings agency said. Africa’s top gold producer is currently assessed B- by S&P Global Ratings and Caa1 by Moody’s Ratings.