Moody’s upgrades Ghana’s credit rating, revises outlook to positive

Moody's has upgraded Ghana's credit ratings due to significant debt restructuring, improving the country's financial outlook.

Ghana's long-term local currency issuer rating rose to "Caa2" from "Caa3," and its foreign currency issuer rating was upgraded to "Caa2" from "Ca."

The outlook was also revised to "positive" from "stable," reflecting hopes for easing liquidity risks, bolstered by fiscal consolidation under the International Monetary Fund's (IMF) support.

This comes after Ghana restructured $13 billion of its external debt, with over 90% of bondholders approving the plan, following a $30 billion debt default in 2022.