The United Nations Development Programme (UNDP), in partnership with Japan, is supporting Ghana in strengthening its sovereign credit profile and restoring investor confidence through its Credit Rating Support Initiative.

The initiative was launched on Tuesday, April 28, 2026, at a Credit Rating Workshop in Accra, bringing together representatives from the Bank of Ghana, the Ministry of Finance, Ghana, and other key institutions.

The programme comes at a critical time as Ghana works to consolidate its post-pandemic recovery, transition from its programme with the International Monetary Fund, and prepare to re-enter international capital markets following its 2022 debt default.

Speaking at the opening, UNDP Resident Representative Shaima Hussein said the initiative is designed to complement ongoing efforts to strengthen financial resilience and secure sustainable financing for development.

She noted that while Ghana’s economic journey has been challenging, recent reforms, including debt restructuring under the IMF Extended Credit Facility, have helped restore stability and create a foundation for recovery.

Early signs of progress are emerging. Fitch Ratings has affirmed Ghana’s Long-Term rating at ‘B-’ with a stable outlook, reflecting growing confidence in the country’s reform trajectory and macroeconomic stabilisation.

Despite these gains, significant challenges remain, including a projected financing gap of up to $70 billion by 2030 and high borrowing costs, with interest rates at times reaching 15-25 per cent.

Hussein stressed that such costs are unsustainable and limit resources available for development priorities.

The UNDP initiative aims to address these gaps by improving engagement with credit rating agencies, enhancing data transparency, and strengthening coordination among key institutions.

As Ghana prepares to re-enter global capital markets, stakeholders emphasised that sustained progress will depend on continued reforms, policy discipline, and strengthened investor confidence in the country’s long-term economic outlook.