ACCRA, April 11 – Credit rating agency Moody’s has revised Ghana’s outlook to positive from stable, pointing to improving fiscal conditions as the West African economy emerges from a deep economic crisis.
The agency highlighted declining domestic financing costs, supported by monetary easing and stronger fiscal management, alongside the government’s return to domestic debt markets.
Finance Minister Cassiel Ato Forson has signalled expectations for sustained economic growth heading into 2026, following a period of restructuring and policy adjustments.
Ghana recently lifted restrictions on domestic bond issuance and returned to the market with a seven-year bond sale, marking a key step in rebuilding investor confidence after a 2023 debt default.
Despite the improved outlook, Moody’s maintained the country’s sovereign rating at Caa1, citing ongoing vulnerabilities including exposure to exchange rate fluctuations and commodity price volatility.
External risks remain elevated, particularly from global energy market disruptions linked to geopolitical tensions, which could impact inflation and fiscal stability.
The outlook revision signals growing confidence in Ghana’s recovery trajectory, even as structural challenges continue to shape the country’s credit profile.
