{"id":24182,"date":"2022-08-09T12:53:42","date_gmt":"2022-08-09T12:53:42","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/ghana-government-says-its-optimistic-despite-sp-downgrade"},"modified":"2022-08-09T13:06:51","modified_gmt":"2022-08-09T13:06:51","slug":"ghana-government-says-its-optimistic-despite-sp-downgrade","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade","title":{"rendered":"Ghana government says it\u2019s optimistic despite S&P downgrade"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>The Ghana government has expressed its dissatisfaction with the Standard and Poor\u2019s (\u201cS&P\u201d) Global Ratings for its recent downgrade of Ghana\u2019s foreign and local currency credit ratings from \u2018B-\/B\u2019 to \u2018CCC+\/C\u2019 with a negative outlook. The decision for the downgrade was mainly attributed to the intensifying financing and external pressures on the economy.<\/p>\n

The Rating agency had considered the country\u2019s elevated gross financing needs in the face of International Capital Market hiatus; limited commercial financing options; credible steps taken by the government to fast-track fiscal consolidation and the passage of key revenue bills.<\/p>\n

The assessment also considered the country\u2019s consequent fiscal and external imbalances caused by the lingering effects of COVID-19 pandemic and the Russian invasion of Ukraine on Ghana.<\/p>\n

According to the Ministry of Finance, the assessment failed to consider government\u2019s economic interventions implemented in 2022, which were affected by global shocks.<\/p>\n

\u201cThe Government is disappointed by S&P\u2019s decision to downgrade Ghana despite the bold policies implemented in 2022 to address macro fiscal challenges and debt sustainability, which have been significantly exacerbated by the impact of these global external shocks on the economy\u201d a statement released by the Ministry noted.<\/p>\n

The Ministry, however, assured that government would continue to be proactive in addressing the external and domestic headwinds of the economy and its impact on livelihoods of Ghanaians as all the revenue measures introduced in the 2022 Budget had been promulgated by Parliament.<\/p>\n

\u201cGovernment has implemented key revenue and expenditure measures, including the 30% cut in discretionary expenditures.<\/p>\n

\u201cThe delays in the passage of key revenue measures introduced in the 2022 Budget affected revenues performance in the first half of the year,\u201d the statement noted<\/p>\n

It said engagements with the International Monetary Fund (IMF) for a Programme was expected to support the drive to restore and sustain macroeconomic stability; debt sustainability and promote growth and job creation whilst ensuring social protection.<\/p>\n

\u201cThe government is committed and is confident that it will successfully emerge from these challenges in the shortest possible time as we have demonstrated the track record to do so in the Akufo-Addo led Government.\u201d<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. The Ghana government has expressed its dissatisfaction with the Standard and Poor\u2019s (\u201cS&P\u201d) Global Ratings for its recent downgrade of Ghana\u2019s foreign and local currency credit ratings from \u2018B-\/B\u2019 to \u2018CCC+\/C\u2019 with a negative outlook. The decision for the downgrade was mainly attributed to the intensifying financing and external pressures on the […]<\/p>\n","protected":false},"author":84,"featured_media":24181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[5092,5096,429],"class_list":["post-24182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nGhana government says it\u2019s optimistic despite S&P downgrade - Ghana<\/title>\n<meta name=\"description\" content=\"The Ghana government has expressed its dissatisfaction with the Standard and Poor\u2019s (\u201cS&P\u201d) Global Ratings for its r ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana government says it\u2019s optimistic despite S&P downgrade\" \/>\n<meta property=\"og:description\" content=\"The Ghana government has expressed its dissatisfaction with the Standard and Poor\u2019s (\u201cS&P\u201d) Global Ratings for its r ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-09T12:53:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-08-09T13:06:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"460\" \/>\n\t<meta property=\"og:image:height\" content=\"287\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ghana government says it\u2019s optimistic despite S&P downgrade\",\"datePublished\":\"2022-08-09T12:53:42+00:00\",\"dateModified\":\"2022-08-09T13:06:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade\"},\"wordCount\":377,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade\",\"name\":\"Ghana government says it\u2019s optimistic despite S&P downgrade - Ghana\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg\",\"datePublished\":\"2022-08-09T12:53:42+00:00\",\"dateModified\":\"2022-08-09T13:06:51+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Ghana government has expressed its dissatisfaction with the Standard and Poor\u2019s (\u201cS&P\u201d) Global Ratings for its r ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg\",\"width\":460,\"height\":287,\"caption\":\"Ghana government says it\u2019s optimistic despite S&P downgrade\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/ghana\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ghana government says it\u2019s optimistic despite S&P downgrade\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#website\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/\",\"name\":\"Ghana\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/ghana\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ghana government says it\u2019s optimistic despite S&P downgrade - Ghana","description":"The Ghana government has expressed its dissatisfaction with the Standard and Poor\u2019s (\u201cS&P\u201d) Global Ratings for its r ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade","og_locale":"en_US","og_type":"article","og_title":"Ghana government says it\u2019s optimistic despite S&P downgrade","og_description":"The Ghana government has expressed its dissatisfaction with the Standard and Poor\u2019s (\u201cS&P\u201d) Global Ratings for its r ...","og_url":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade","og_site_name":"Ghana","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2022-08-09T12:53:42+00:00","article_modified_time":"2022-08-09T13:06:51+00:00","og_image":[{"width":460,"height":287,"url":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Ghana government says it\u2019s optimistic despite S&P downgrade","datePublished":"2022-08-09T12:53:42+00:00","dateModified":"2022-08-09T13:06:51+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade"},"wordCount":377,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg","keywords":["Africa Press","Africa Press-Ghana","ghana"],"articleSection":["all news","head lines","homepage-english","policy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade","url":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade","name":"Ghana government says it\u2019s optimistic despite S&P downgrade - Ghana","isPartOf":{"@id":"https:\/\/www.africa-press.net\/ghana\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg","datePublished":"2022-08-09T12:53:42+00:00","dateModified":"2022-08-09T13:06:51+00:00","author":{"@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Ghana government has expressed its dissatisfaction with the Standard and Poor\u2019s (\u201cS&P\u201d) Global Ratings for its r ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#primaryimage","url":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg","contentUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2022\/08\/postQueueImg_12-62f25bd5db8c4.jpg","width":460,"height":287,"caption":"Ghana government says it\u2019s optimistic despite S&P downgrade"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/ghana-government-says-its-optimistic-despite-sp-downgrade#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/ghana\/"},{"@type":"ListItem","position":2,"name":"Ghana government says it\u2019s optimistic despite S&P downgrade"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/ghana\/#website","url":"https:\/\/www.africa-press.net\/ghana\/","name":"Ghana","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/ghana\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts\/24182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/comments?post=24182"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts\/24182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/media\/24181"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/media?parent=24182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/categories?post=24182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/tags?post=24182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}