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Koku Anyidoho Descends On Bawumia Over Moody Rating

Koku Anyidoho, a Deputy General Secretary of the governing National Democratic Congress (NDC), has said that, Dr Mahamudu Bauwima, vice-presidential nominee of the New Patriotic Party (NPP), is a walking contradiction who should not be taken seriously in Ghana.

His comment was in reaction to claims by Dr Bawumia that international rating agency Moody’s had not upgraded Ghana’s sovereign credit rating, contrary to assertions by the Mahama administration to that effect.

During the launch of the NPP’s 2016 manifesto at the International Trade Fair Centre in Accra on Sunday, 9 October, 2016 Dr Bawumia claimed that Ghana’s sovereign credit rating got downgraded to (B-) under President Mahama despite having oil revenue at its disposal, from (B) positive (without oil under the NPP).

It could be recall that, Moody’s Investors Service recently affirmed the Government of Ghana’s issuer and senior unsecured rating at B3 and changed the outlook to stable from negative.

However, Dr Bawumia noted that nothing had changed except the revised outlook. He said, in fact, international rating agencies like Moody’s, Fitch, and Standard & Poor’s now have basically the same credit rating for Ghana.

“The recent revision of Ghana’s outlook from (B-) negative to (B-) stable, that is the equivalent of B3,” he explained, with the revision of the outlook from negative to stable, “has resulted in a misinterpretation by this NDC government and President Mahama that Ghana’s credit rating has been upgraded”.

“This is in fact not the case. Moody’s did not upgrade Ghana. Ghana’s rating under Moody’s is still B-. It is only the outlook that has been revised and that is not equivalent to a change in rating or a rating upgrade.

“Sometimes, one wonders whether they don’t read or they don’t understand. So, let me give Mr President a free piece of advice: Mr President, please desist from embarrassing yourself by stating that Moody’s has upgraded Ghana. Your economic management team should explain that difference to you.

“The Mo Ibrahim 2016 report on governance shows that on virtually all key development indicators such as safety, rule of law, human rights, economic opportunities, infrastructure, business environment, human development, health and public management, Ghana is worse off today than it was 10 years ago.”

Meanwhile, Koku Anyidoho said on Class fm that: “The man Dr Bawumia is a walking contradiction … who is fed with words to come and speak, and that Dr Bawumia doesn’t read.

“Dr Bawumia has no understanding of what he is saying, that is why he is running away from me because he knows I will embarrass him.”

Source: Temanewsonline.com

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