\n This significant development reflects growing investor confidence in the West African nation\u2019s economic recovery, spearheaded by Finance Minister Dr Cassiel Ato Forson.\n <\/p>\n
Eurobond restructuring and external debt talks drive upgrade<\/p>\n
\n Fitch\u2019s positive assessment follows Ghana\u2019s notable achievements in debt restructuring, particularly the successful renegotiation of $13.1 billion in Eurobond liabilities.\n <\/p>\n
\n The country has also made substantial progress in discussions with its remaining external creditors and is expected to conclude the full restructuring process by the end of 2025.\n <\/p>\n
\n The agency commended Ghana for restoring normal relations with the majority of its commercial lenders, suggesting that the country is re-establishing its financial credibility after a turbulent period.\n <\/p>\n
<\/p>\n
Inflation falls to three-year low as Cedi strengthens<\/p>\n
\n One of the most encouraging indicators highlighted in the report is Ghana\u2019s rapidly declining inflation. The rate has fallen from 23% in 2024 to 18.4% in May 2025\u2014the lowest level recorded in over three years. Fitch projects that inflation will continue to fall, averaging 15% in 2025 and dropping further to 10% in 2026.\n <\/p>\n
\n This downward trend is being driven by a combination of tight monetary policy, prudent fiscal management, and improved currency stability. The Ghanaian cedi has seen significant appreciation in recent months, reversing earlier depreciation trends and easing pressure on import prices, including fuel.\n <\/p>\n
\n Fitch attributed the cedi\u2019s turnaround to \u201crenewed confidence in Ghana\u2019s macroeconomic fundamentals and coordinated interventions by the Ministry of Finance and the Bank of Ghana.\u201d\n <\/p>\n
Public finances improve as debt and deficit decline<\/p>\n
\n Under the direction of Dr Ato Forson, the government has implemented a robust economic recovery strategy focused on fiscal consolidation, debt sustainability, and rebuilding investor trust. Key achievements under his leadership include:\n <\/p>\n
\n Public debt-to-GDP ratio Projected to fall to 60% in 2025 (from 93% in 2022) Gross international reserves Increased to $6.8 billion and rising Fiscal performance Primary surplus of 0.5% of GDP projected in 2025 Interest payments as share of revenue Down to 25% from a peak of 48% in 2021 Real GDP growth 5.7% in 2024; projected 4% in 2025 Senior officials at the Ministry of Finance attributed these improvements to \u201cthe Finance Minister\u2019s bold and consistent policy direction\u201d, adding that the upgrade \u201cunderscores the success of Ghana\u2019s path towards economic stability.\u201d\n <\/p>\n
Fitch rating seen as catalyst for investor re-engagement<\/p>\n
\n The upgraded rating is expected to enhance Ghana\u2019s appeal to international investors, support the revival of domestic capital markets, and alleviate fiscal pressures.\n <\/p>\n
\n Dr Forson, speaking earlier this month, reaffirmed the government\u2019s commitment to maintaining discipline: \u201cWe are building an economy that works for everyone. This upgrade is a signal that Ghana is back on track, and we will not relent in protecting the gains we\u2019ve made.\u201d\n <\/p>\n
A turning point for Ghana\u2019s economy<\/p>\n
\n With inflation easing, debt levels falling, and currency stability returning, the latest upgrade by Fitch marks a turning point in Ghana\u2019s post-default economic journey. Beyond signalling recovery to investors, it represents a renewed sense of hope for citizens anticipating a more stable and prosperous future.\n <\/p>\n","protected":false},"excerpt":{"rendered":"This significant development reflects growing investor confidence in the West African nation\u2019s economic recovery, spearheaded by Finance Minister…\n","protected":false},"author":2,"featured_media":195083,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,16,15],"class_list":{"0":"post-195082","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114705822257348217","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/195082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=195082"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/195082\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/195083"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=195082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=195082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=195082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}