Chief Executive Officer of Dalex Finance, Joe Jackson has urged government to continue with its expenditure cuts in order to sustain and improve the recent positive credit ratings by Moody's.
The credit rating agency, recently upgraded Ghana's long-term local and foreign currency issuer ratings, reflecting the country's progress in debt restructuring and fiscal consolidation efforts.
The local currency rating was upgraded to "Caa2" from "Caa3," and the foreign currency rating moved to "Caa2" from "Ca." This upgrade is attributed to Ghana's successful completion of an extensive external debt restructuring, alleviating substantial financial pressures on the government.
CEO of Dalex Finance, Joe Jackson has encouraged government to be prudent in its spending to maintain the positive rating. ''All we call for is this, that this government, the power that be, those doing the right thing, curbing expenditure, staying within budget, will continue to do so even though this is an election year, so that we can continue to maintain the gains we have made and move forward'', Joe Jackson advised.