The ratings agency raised Ghana’s status from “restricted default” to B-, citing the successful restructuring of $13.1 billion in Eurobond debt, continued fiscal discipline, and progress in restoring macroeconomic stability.

The Ministry welcomed the development, calling it a strong indication that reforms are yielding results and that Ghana is regaining the confidence of international markets.

Professor John Gatsi, a finance expert at the University of Cape Coast, believes the upgrade reflects a shift in how the global financial community views Ghana’s ability to meet its debt obligations.

“These kinds of ratings send a clear message to investors and creditors that the country is making meaningful improvements,” he said. “It shows we’re moving in a direction that builds confidence. It’s a positive signal that Ghana is becoming a safer destination for investment.”

The revised rating is expected to improve investor sentiment and open the door to better financing terms as Ghana continues efforts to stabilise its economy and strengthen public finances.

--ChannelAfrica--