Ghana’s economic context has been improving, with overall GDP growth projected at about 6% in 2017. This reflects a strong increase in oil production, against the backdrop of the contractionary impact of the budgeted fiscal adjustments. Also the current-account deficit is narrowing and short-term debt is on the decline. Based on these improving indicators, Credendo decided to upgrade Ghana’s short-term political risk classification by one notch, from category 5/7 to 4/7.