Does Credit Ratings Agencies Determines The Size & Success Of An Economy? Certainly Not: Razak Kojo Opoku Writes

An American credit rating agency known as S&P Global Ratings on August 5th, 2022 downgraded Ghana's credit rating from B- to CCC+, reflecting Ghana's limited commercial financing options, constrained external and fiscal buffers. S&P Global Ratings has lowered Ghana's foreign and local currency and Sovereign ratings to CCC+ and the NDC members are extremely happy with this report. However, Ato Forson and NDC members failed to further read about the reasons cited by S&P Global Ratings in support of its CCC+ rating for Ghana. The S&P Global Ratings also stated in its report that, "the COVID-19 pandemic and the Conflict…