Country
Ghana GHA
BOG
score date 2026-10-09 · 30d +1.0
Seven dimensions
Credibility gap91.9
IMF / national CPI · as of 2026-08-01 · coverage: silver
Behind the curve57.5
BIS policy rates + CPI · as of 2026-07-01 · coverage: silver
Communication—
Central-bank statements · as of 2026-10-09 · coverage: silver
Geopolitical46.6
GDELT · as of 2026-10-09 · coverage: silver
Growth56.1
World Bank WDI / IMF WEO · as of 2026-10-09 · coverage: silver
Liquidity55.8
IMF BOP / BIS / FRED · as of 2026-10-09 · coverage: silver
Governance51.0
World Bank WGI · as of 2026-10-09 · coverage: silver
Ghana sovereign credibility, in brief
Ghana scores 61.6 out of 100 on the composite sovereign credibility index — credibility band 50–65. That ranks it 1 of 43 in Sub-Saharan Africa, the 100th percentile of the region. The score has risen 0.9 points over the past seven days. CPI 5.0% vs 8.0% target (-3.0pp) — well below target | adequate credibility (62/100) | slightly improving.
As of 2026-10-09 · scored daily from public data under methodology v8
Executive summary
written 10 Oct · score 9 OctGhana ranks first of 44 Sub-Saharan peers at 61.6, but the score rests on low inflation and a central bank communication record that was not scored.
- Composite position: The score of 61.6 is adequate and sits well above the regional average of 49.3.
- Inflation vs target: CPI of 5.0% is 3.0pp below the 8.0% band target.
- Policy stance: The 14.0% policy rate leaves a real rate of about 9pp, and the behind-the-curve score is 57.5.
- Credibility gap: The gap score of 91.9 is high, but no central bank statements were scored, so communication is unmeasured.
- Geopolitics: Pressure is moderate at 46.6, and recent headlines are mostly corporate, local, and fraud-enforcement stories.
- Watch item: Whether CPI stays below the band while the policy rate holds at 14.0%.
Peer context
Rank 1/43 in Sub-Saharan Africa · 100th percentile
Region avg 49.3 · best 61.6 · worst 14.1
Ranked either side
- South Africa 61.6
- Uganda 61.2
90-day trend
External pulse
- Port trade momentum, 30d YoY
- -7.0%
- as of 2026-10-10
- Commodity terms-of-trade, 12m change
- +3.3%
- as of 2026-10-10
Sources: Kpler; UN Global Platform; IMF PortWatch (portwatch.imf.org) · Terms-of-trade: IMF Commodity Terms of Trade
Key indicators
External & activity
| Cpi monthly index | 268.5 | 2026-08-01 | ILO CPI |
| Current account (% GDP) | 8.2% | 2025-12-31 | World Bank |
| FDI inflows (% GDP) | 1.7% | 2025-12-31 | World Bank |
| GDP growth, annual | 6.0% | 2025-12-31 | World Bank |
| Nightlights radiance (monthly sum) | 1M | 2025-12-01 | World Bank / NASA Black Marble |
| Nightlights radiance, YoY | -0.4% | 2025-12-01 | derived |
| Remittances (% GDP) | 2.1% | 2025-12-31 | World Bank |
| Reserves (months of imports) | 1.6 mo | 2024-12-31 | World Bank |
| Trade openness (% GDP) | 69.0% | 2024-12-31 | World Bank |
| Unemployment rate | 3.0% | 2025-12-31 | World Bank |
| Unemployment rate (ILO) | 3.2% | 2025-12-31 | ILO |
Structure
| External debt (% GNI) | 46.9% | 2024-12-31 | World Bank |
| GDP per capita (USD) | $3,257 | 2025-12-31 | World Bank |
| Labor force participation | 70.4% | 2025-12-31 | ILO |
| WGI: control of corruption | -0.1 | 2025-12-31 | World Bank |
| WGI: government effectiveness | 0.1 | 2025-12-31 | World Bank |
| WGI: political stability | 0.1 | 2025-12-31 | World Bank |
| WGI: regulatory quality | -0.2 | 2025-12-31 | World Bank |
| WGI: rule of law | -0.0 | 2025-12-31 | World Bank |
| WGI: voice & accountability | 0.4 | 2025-12-31 | World Bank |
Nightlights: World Bank / NASA Black Marble VIIRS (CC BY 4.0)
Follow the moves
Every figure above is recomputed daily from public data, with the source and as-of date shown for each one. The weekly briefing says which scores moved, and why.