This is according to Ratings agency Moody’s, in its report on the 2016 budget. The prediction backs historical fears that Ghana’s election cycle could derail progress made in stabilizing the economy. Then, on Monday, the central bank further tightened monetary policy to suppress inflation and anchor inflation expectations. Some of the risks relate to the front-loaded investment expenditures required to address the power crisis in order to meet the 2016 growth target of 5.4% underlying the 2016 budget. Ghana’s fiscal consolidation effort is accompanied by a tighter monetary policy stance with a view to anchoring inflation expectations and stabilizing the exchange rate.