Ghana Sees Ratings Upgrade As Moody’s Cites Strong Economic Outlook

International credit rating agency Moody’s Investors Service has upgraded Ghana’s sovereign credit rating, marking a significant vote of confidence in the country’s ongoing economic recovery and fiscal reforms.

Ghana’s macroeconomic stability has improved, inflation has decreased, and the IMF-backed program’s debt restructuring operations have advanced, as evidenced by the upgrading from Caa3 to Caa2 with a positive outlook.

Moody’s attributed the decision in large part to Ghana’s better foreign reserves, enhanced fiscal discipline, and improved market sentiment. The government’s accomplishments in stabilizing the cedi and lowering the nation’s budget deficit were also emphasized by the agency.

According to the Ministry of Finance, the upgrading shows that the international community has faith in Ghana’s economic management and reform plan.

GoldBod Drives Recent Stability In The Ghana Cedi

Economists say, the credit upgrade might make borrowing less expensive for Ghana, draw in more foreign capital, and boost the country’s economy in 2026.

Moody’s cautioned that maintaining the benefits will need ongoing fiscal consolidation, revenue mobilization, and structural reforms targeted at economic diversification, notwithstanding the optimistic prognosis.

The most recent development comes after Fitch made a similar revision to Ghana’s outlook in September 2025, citing similar improvements in debt sustainability and growth prospects, changing it from stable to positive.