Ghana’s President Akufo-Addo has criticized global rating agencies actions as he describes them as reckless and unfriendly, particularly towards developing economies facing challenges.

During a severe economic crisis in Ghana, all rating agencies downgraded the country’s creditworthiness to junk status.

This downgrade had significant consequences, as it prevented Ghana from accessing the capital market and, according to the President, exacerbated the nation’s financial difficulties.