Fitch: Ghana view stable

Fitch Ratings said it revised the outlook on the republic of Ghana's long-term foreign- and local-currency issuer default ratings to stable from positive. Both long-term issuer default ratings are affirmed at B+, while the short-term foreign-currency issuer default rating is affirmed at B and the country ceiling at B+.

"In many respects, Ghana remains a trendsetter in sub-Saharan Africa: The economy is growing rapidly, reforms are continuing apace and governance is good by regional standards," Paul Rawkins, a senior director for Fitch, said in a written statement.

"However, the emergence of sizable fiscal and current account imbalances, coupled with a sharp rise in its gross external financing needs, means that Ghana's macroeconomic outlook is more fragile than it was," Rawkins said.

The affirmation reflects that Ghana is comfortably ahead of both B and BB medians on international rankings of governance and political stability, the agency said.

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