Ghana’s foreign-currency sovereign credit rating has been upgraded from Selective Default (SD) to CCC+ by global credit rating agency S&P Global Ratings. The upgrade reflects renewed investor confidence and positive momentum in economic management under Finance Minister Dr. Cassiel Ato Forson.
The rating agency cited Ghana’s decisive progress in restructuring its external debt and stabilizing its macroeconomic environment as key factors in the upgrade. According to S&P, negotiations with remaining commercial creditors are nearing completion, restoring credibility and easing fiscal pressure.
The upgrade also acknowledges the current administration’s firm commitment to reforms, which are yielding tangible benefits. Inflation is steadily falling, driven by a strengthening cedi and lower energy prices. Ghana’s public debt is projected to decline from 71.4% of GDP at end-2024 to 47.4% by 2028.
The S&P upgrade is a strong signal to the international investor community and development partners that Ghana is turning a crucial corner, with improving external metrics, steady policy reforms, and a supportive growth outlook justifying the new, higher rating.
Sankofaonline
