Makrognosis

Ghana Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:GH

Model score59 / 1009 Nov 2026
Grade equivalentBBBmodel-implied
BandInvestment grade0–100 scale, 100 = strongest
Rank48th of 84economies scored

Makrognosis sovereign credit model scores Ghana at 59 out of 100 as of 9 November 2026, equivalent to BBB on the familiar letter scale — investment grade.

The score is unchanged from the previous assessment on 1 October 2026.

That places Ghana 48th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 45.7% of GDP, a fiscal balance of −2.8% of GDP, a current account balance of 8.2% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Ghana sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 20264045505560Robomacro
Ghana sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202658.9BBB
1 October 202658.9BBB
31 July 202658.9BBB
30 July 202642.8BB
26 July 202640.8BB-
21 June 202648.3BB+
18 June 202640.9BB-
Get the Ghana sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/GH"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/GH",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Ghana, from official national and international statistics.

InputValueVintage
GDP per capitaUS$3,257.22026
Real GDP growth, 5-year average4.3%2026
Inflation, recent average13.0%2026
Government debt45.7% of GDP2026
Fiscal balance−2.8% of GDP2026
Current account balance8.2% of GDP2026
External debt46.9% of GDP2026
Foreign-exchange reserves1.6 months of imports2026
Governance (World Bank WGI composite)0.007672026

How Ghana compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
43Greece9 Nov 202663
44Indonesia9 Nov 202661
45Kuwait9 Nov 202660
46Romania9 Nov 202660
47Hungary9 Nov 202659
48Ghana9 Nov 202659
49Argentina9 Nov 202658
50Panama9 Nov 202658
51Trinidad and Tobago9 Nov 202657
52Bulgaria9 Nov 202657
53Jordan9 Nov 202657
54Guyana9 Nov 202657

All 84 economies ranked →

Ghana economic indicators

Ghana Government Debt to GDPGhana Central-government gross debt (MoFEP, USD million)Ghana Monetary Policy Rate (Bank of MPC), calendar-month average of the official rate in force

FAQ

What is Ghana's credit rating?
Makrognosis sovereign credit model scores Ghana at 59/100 as of 9 November 2026, equivalent to BBB (investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/GH returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.