Fitch Ratings Upgrades Ghana's Credit Rating to B
Accra, Ghana - 17 June, 2025 - Global credit rating agency Fitch Ratings has upgraded Ghana's Long-Term Foreign-Currency Issuer Default Rating (IDR) from 'Restricted Default' to 'B-' with a Stable Outlook. This move reflects growing investor confidence in Ghana's economic recovery, driven by significant progress in fiscal and debt management.
The upgrade is attributed to Ghana's successful restructuring of $13.1 billion in Eurobond debt and near-completion of external debt negotiations. Fitch expects full restructuring to be finalized by the end of 2025. Key economic indicators, such as inflation, have shown notable improvement, dropping to 18.4% in May 2025, the lowest rate in over three years.
Finance Minister Dr. Cassiel Ato Forson's leadership has been instrumental in Ghana's economic turnaround strategy, focusing on fiscal consolidation, debt sustainability, and restoring investor trust. Under his direction, Ghana's public debt-to-GDP ratio is projected to decline to 60% in 2025, and gross international reserves have surged to $6.8 billion.
The improved rating is expected to boost Ghana's appeal to foreign investors, support the reopening of domestic capital markets, and ease pressure on public finances. Ministry of Finance officials credited Dr. Forson's policy direction and stakeholder engagement for restoring Ghana's credibility in global markets.
Source: Lead News Online
