What Fitch's upgrade of Ghana’s economy to 'B-' with a Stable Outlook means

With the strengthening of the local currency against major trading currencies, particularly the US dollar, there have been positive signals indicating a robust economy.

On Monday, June 16, 2025, Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) was upgraded to 'B-' with a Stable Outlook.

This upgrade reflects Ghana’s successful restructuring of $13.1 billion in Eurobond debt, along with near-finalised negotiations with remaining external creditors.

According to Fitch, Ghana has normalised relations with most commercial creditors and is expected to complete its full debt restructuring by the end of 2025.

But what does this mean for Ghana?

The upgrade to 'B-' with a Stable Outlook significantly boosts investor confidence, increasing the likelihood of foreign investment into the country.

Investors mostly consider the stability of an economy before pumping their monies into it. Investing in a shaky economy can be equated to taking high risk investments as probability of the investor losing his or her money is high.

Apart from improving investor confidence, the steady economic conditions also enhance Ghana’s access to international financial markets.

International financial markets refer to global platforms where financial assets such as stocks, bonds, currencies, and commodities are traded across different countries.

These markets enable governments, businesses, and investors to raise capital, trade securities, and manage risks beyond national borders, thereby fostering economic growth.

SA/MA