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Global ratings agency Fitch has upgraded Ghana’s sovereign credit rating from ‘B-‘ to ‘B,’ citing the nation’s disciplined fiscal consolidation and resilient economic growth.
This upgrade follows similar positive assessments from Moody’s and S&P, reflecting a growing international confidence in Ghana’s financial trajectory.
The agency highlighted that robust real GDP growth, progress in debt restructuring, and a significant boost in international reserves have combined to reduce external liquidity risks for the West African country.
While Ghana has successfully slowed inflation for 15 straight months, April saw a slight uptick in prices for the first time since late 2024.
Government officials attribute this shift to global shocks and regional disruptions that have driven up the costs of essential food and fuel.
Despite these immediate pressures, Fitch maintains a “positive” outlook, signalling expectations that the government will continue its path of fiscal prudence and improved financial management.
Looking ahead, the ratings agency projects a steady improvement in Ghana’s debt profile, with public debt expected to drop to 46 per cent of GDP by 2027.
Supported by its strong exports of gold, oil, and cocoa, Ghana’s economic output is forecast to remain solid over the next several years.
This upgrade marks a significant milestone in the country’s recovery from a period of severe economic distress, positioning it more favourably in the eyes of global investors.
