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Ghana is targeting a major upgrade in its sovereign credit rating as it transitions from the IMF’s bailout programme into a new non-financing Policy Coordination Instrument (PCI) arrangement designed to sustain macroeconomic stability and restore investor confidence.
Dr. Theo Acheampong, Technical Advisor at the Ministry of Finance, said the new IMF-supported framework could help Ghana move from its current “B” rating to “BB,” a development expected to lower borrowing costs and unlock cheaper financing for both government and the private sector.
Speaking on The Point of View hosted by Bernard Avle, Dr. Acheampong emphasized that the PCI arrangement is not another bailout but a credibility-enhancing policy anchor aimed at reassuring investors and ratings agencies.
“The target is actually to get to a double B,” he said, noting that achieving this rating could reduce Ghana’s cost of capital by 100 to 200 basis points.
He added that the benefits extend beyond government financing. “For other investors looking to raise capital, the country risk premium for Ghana would come down,” he explained.
Ghana recently completed its $3 billion IMF-backed Extended Credit Facility programme ahead of schedule and is set to transition into the PCI framework by July 2026. The arrangement will provide technical policy support and mechanisms for fiscal discipline without additional borrowing from the IMF.
Dr. Acheampong also highlighted that the PCI could help Ghana avoid election-related fiscal slippages that have historically prompted repeated IMF interventions. The Finance Ministry believes the framework could further improve access to concessional funding from institutions such as the World Bank and African Development Bank, while strengthening confidence in Ghana’s long-term economic recovery.
Story by Efua Nessa
Source: Loco tv