Moody's rates Ghana B1

Moody's Investors Service said it assigned local- and foreign-currency issuer ratings of B1 to the government of the Republic of Ghana.

The outlook is stable.

The agency said the main drivers of Ghana's B1 rating are robust growth prospects, supported by foreign investment in gold mining, petroleum and gas sectors; moderate institutional strength, as reflected by Ghana's democratic track record, political stability and policy continuity; weak fiscal fundamentals and rising levels of public-sector debt; and limited fiscal and foreign exchange buffers against external shocks.

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