ACCRA: Global ratings agencies Fitch and Moody's have enhanced Ghana's credit outlook by upgrading its Long-Term Local-Currency (LTLC) ratings. Fitch increased its rating from "CCC" to "CCC+", while Moody's raised its assessment from levels of "Caa3" and "Ca" to "Caa2." This positive adjustment reflects the country's successful debt restructuring and a promising economic trajectory. According to Ghana News Agency, both Fitch and Moody's cited Ghana's comprehensive debt restructuring efforts, including the completion of a Eurobond exchange, as key drivers behind the upgrade. These measures have alleviated financial pressures on the government, allowing for improved access to concessional international finance. Fitch explained that the upgraded "CCC+" rating indicates a diminished likelihood of default on local currency debts due to these fiscal reforms. Moody's has revised Ghana's outlook from "stable" to "positive," anticipating further easing of liquidity risks amid ongoing fiscal consolidation supported b y an International Monetary Fund (IMF) program. This optimistic outlook comes shortly after Ghana's Finance Minister, Dr. Mohammed Amin Adam, announced the resumption of debt payments to Eurobond holders following the successful restructuring of $13 billion in external debt. The restructuring is part of a broader agreement under the IMF's Extended Credit Facility (ECF), aimed at helping Ghana rebound from a near $30 billion debt default in 2022. The modifications are expected to decrease Ghana's debt by $4.7 billion and provide $4.4 billion in cash flow relief during the IMF-supported program. Dr. Adam highlighted that the actual debt exchange would occur over the next two weeks, enabling Ghana to resume servicing its debts, albeit at reduced levels due to lower interest rates and principal amounts. Further relief comes from the postponement of debt servicing with Official Bilateral Creditors until after 2028. Adding to the positive economic news, the Ghana Statistical Service (GSS) reported that Ghana's ec onomy grew by 6.9 percent in the second quarter of 2024, marking the highest growth rate in five years. Stephane Roudet, the IMF's Mission Chief for Ghana, noted that the country's economic growth in the first half of 2024 exceeded expectations, underscoring a robust recovery phase.