Ghana's economic growth accelerated after the restructuring of domestic debt in 2023, reaching 5.7% in 2024 and 6.3 % in the first half of 2025. For example, Moody's Raise the country's score to Caa1 and Assigns a stable outlook Moody's forecasts moderate average growth around 4 to 5% in the future.

This upgrade reflects better prospects for debt reduction, with Moody's forecasting that the government debt ratio of Ghana will fall below 60% of GDP by the end of 2026. The country benefits greater macroeconomic stability and external conditions favorable, which support more controlled financing costs and a replenishment of foreign exchange reserves.

For Moody's, this improvement reflects better prospects for debt reduction. The note of unsecured senior debt in foreign currencies was also raised to Caa1 against Caa2 previously. The notes for the MTN senior program no guaranteed in Ghana's foreign and local currencies were also raised to (P) Caa1 versus (P) Caa2. The ceiling country for the local currency and the foreign currency of Ghana has been raised by a notch, moving to B1 and B2 respectively against B2 and B3.

The country's external position has grown considerably improved, driven by the favorable dynamics of its main products of exports — gold and cocoa — and through solid remittances. The The current account recorded a surplus of 2% of GDP in 2024 and 3.5% of GDP in the first half of 2025, marking a notable evolution after more than two decades of persistent deficits.

Gross foreign exchange reserves, excluding gold, encumbered assets and oil funds, went from 2.5 billion dollars at the end of 2023 to 6.0 billions of dollars (6.1% of GDP) in June 2025, monetary gold reserves adding an additional $3.2 billion.