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Fitch Ratings has indicated that Ghana will have severe financial challenges throughout 2026 and the next year, even though the country has restructured the majority of its debt.
The UK-based company claims that among the sovereigns assessed by Fitch, the interest rate revenue ratio would remain among the highest.
In 2025 and 2026, the interest rate revenue ratio is projected to be 29% and 30%, respectively.
The scenario calls for quite dramatic steps to strengthen the fiscal economy, according to Thomas Garreau, Associate Director of Europe, Middle East, and Africa Sovereign Ratings at Fitch.
“We do consider that Ghana will still face significant liquidity pressures. We still have a very elevated interest rate revenue ratio. The interest rate will still be among one of the highest at approximately 30% – so almost twice the emerging markets rate of 16%”.
“This represent quite some significant liquid pressures. Ghana has implemented a large fiscal consolidation with a 4.6 percentage points primary fiscal adjustment between 2022 and 2024”, he stated.
Beginning in July 2025, Fitch had stated that Ghana would be lifted out of sovereign default.
Its goal is for the nation to finish restructuring its external debt by the end of June 2025.
Source: Ghanatodayonline.com
