S&P affirms Ghana

Standard & Poor's said it affirmed its B+ long-term and B short-term sovereign credit ratings on the Republic of Ghana.

The outlook is stable.

S&P noted that the ratings on Ghana are supported by the entrenchment of macroeconomic and political stability and the easing of external and fiscal pressures following debt relief under the Multilateral Debt Relief initiative.

The ratings are constrained, however, by a narrow economic base, low levels of development and a reliance on donor inflows, the agency said.

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