According to Fitch, Ghana will continue to experience liquidity issues in 2025 and 2026.

Despite restructuring the majority of its debt, the Fitch Ratings Agency has forecast that Ghana will experience severe financial problems into 2025 and 2026.Travel packages

Ghana’s interest-to-revenue ratio would continue to rank among the highest in its rated sovereign portfolio, according to the UK-based credit rating agency. According to estimates, the percentage will almost double from its current average of 16% for emerging markets, reaching 29% in 2025 and 30% in 2026.

In order to address Ghana’s economic difficulties, Thomas Garreau, Associate Director for Europe, the Middle East, and Africa Sovereign Ratings at Fitch, called for drastic fiscal measures.

“We continue to expect Ghana to face severe liquidity pressures,” Garreau said. At about 30%, the nation’s interest-to-revenue ratio is still abnormally high and almost twice as high as the average for emerging markets. This underlines how urgent action is required to stabilise the fiscal economy.

Garreau recognised Ghana’s efforts at fiscal consolidation in spite of these obstacles, pointing to a primary fiscal adjustment of 4.6 percentage points made between 2022 and 2024.
Sovereign Default Prospects

By July 2025, Fitch had previously stated that it intended to take Ghana out of sovereign default. The nation’s journey towards financial stability, however, may be hampered by the persistent liquidity constraints and high interest rates.