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Ghana’s debt distress rating upgraded to moderate risk- IMF rep states
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Ghana’s debt distress rating has been upgraded from high risk to moderate risk, marking the first such improvement in 13 years, according to the International Monetary Fund (IMF).
IMF Resident Representative to Ghana, Dr Adrian Alter, described the development as a major achievement, noting that it came two years earlier than initially expected.
Speaking on The Point of View with Bernard Avle on August 24, 2026, Dr Alter explained that the latest Debt Sustainability Analysis (DSA) conducted at the end of Ghana’s Extended Credit Facility (ECF) programme showed significant improvements in the country’s debt sustainability indicators.
“The rating has been upgraded from high risk of debt distress to moderate risk of debt distress. And this is the first time in 13 years, so it’s a huge achievement,” he stated.
He noted that the country’s key debt sustainability indicators had improved and were now below the required thresholds.
According to him, Ghana’s central government public debt has also fallen to about 45 per cent of Gross Domestic Product (GDP).
Dr Alter explained that the government must continue working to reduce borrowing and interest costs, which currently take up about one-third of government expenditure.
He said lowering interest costs would create more fiscal space for the government to spend on salaries, social programmes and development projects.
He stressed the need for increased domestic revenue mobilisation to support capital expenditure without placing excessive pressure on borrowing.
However, he cautioned that the government must avoid competing with the private sector for funds needed to expand businesses and create jobs.
“The private sector should be the one creating jobs and boosting growth,” he noted.
Dr Alter added that private sector credit had recently increased by about 40 per cent year on year, based on the latest statistics from the Bank of Ghana, describing the development as a positive sign for economic growth.
By: Jacob Aggrey
The Attorney-General and Minister for Justice, Dr. Dominic Ayine, has announced plans to introduce a new Bill to strengthen the legal framework for the discipline of lawyers in Ghana.
In an address read on his behalf by the Deputy Attorney-General at the opening of the 2026 Conference of the Ghana Bar Association, Dr. Ayine disclosed that the Bill is headed to Cabinet for review and approval before being laid before Parliament.
The proposed law, to be called the Legal Profession (Practitioners Standards Board) Bill, is expected to transform and strengthen the regulatory framework for disciplining lawyers to safeguard the rights of practitioners and promote public confidence in the profession.
According to the Attorney-General, when passed, the Bill will establish an independent Disciplinary Committee with clear rules of procedure and proposals on proportionate sanctions.
He explained that this marks a progressive departure from the existing framework where the Disciplinary Committee both investigates and adjudicates complaints. The Bill also proposes clear and strict procedural timelines for resolving grievances to avert prolonged deliberations that frustrate both clients and lawyers.
Secondly, Dr. Ayine noted that under the current framework, Superior Court judges sit on the Disciplinary Committee whose decisions, as quasi-judicial decisions, are subject to reviews and appeals in the same courts where these judges preside.
The new Bill seeks to eliminate this conflict of interest by creating a separately constituted Board composed of lay non-lawyers and professional representatives with guaranteed tenure.
The Attorney-General added that the Bill seeks to separate professional discipline from executive, judicial or competitive interference to ensure that disciplinary mechanisms are not weaponized against lawyers by clients, the Bench, or the State.
The introduction of the new law forms part of efforts by the Attorney-General to introduce reforms into the legal profession aimed at revolutionizing legal practice and training. It follows the passage of the Legal Education Act, 2026, which is currently at the implementation stage.
News
Gov’t did not approve market near school — Stan Dogbe clears air on Ahafo Ano South market siting
Deputy Chief of Staff, Stan Xoese Dogbe has reacted to a viral video raising concerns about the siting of a market close to a school in the Ahafo Ano South District of the Ashanti Region.
In a post responding to the video, Mr. Dogbe said he has been in contact with the Ashanti Regional Minister, Dr. Frank Amoakohene, who he said is on top of the situation and has long since halted the construction process.
According to him, the decision to designate the said land near the school for the market was not a government decision.
“Once the development was brought to the RCC’s attention, the regional minister immediately asked that the process be stopped,” he stated.
Mr. Dogbe explained that the community currently has no available land space for the construction of the model market, which necessitated their choice of the location near the school.
He noted however that the community has been asked to find another, more suitable piece of land for the project to commence.
“We thank all for the interest in developmental issues in our communities,” he added.
By Edem Mensah-Tsotorme
