Credit ratings agency, Moody's, ​has maintained ​Ghana's ⁠ratings at "Caa1".

According to the ratings agency, this reflects continuing credit constraints and high susceptibility to exchange rate and ⁠commodity ​price volatility, especially with ​the ongoing Middle East conflict.

It, however, revised Ghana's outlook to "positive" from "stable", citing an improvement in the country's finances.

The US-based firm said domestic financing costs have declined amid monetary policy easing and ​an improved fiscal position.

"Domestic financing costs have declined amid monetary easing and ​an improved fiscal position, while the ​resumption of domestic bond issuances will, if sustained, ‌gradually ⁠reduce rollover risk”.

Ghana issued its first 7-year bond in April 2026, ending a suspension in 2023 following the Domestic Debt Exchange Programme (DDEP).

This came after lifting restrictions on new domestic bond issuance in March 2026.