Three years ago, Ghana was the cautionary tale of African finance. After years of heavy borrowing and external shocks, the country defaulted on its international debt in 2022 and scrambled into a $3 billion IMF programme in 2023. Eurobond coupons went unpaid, inflation blew out, the cedi plunged and confidence evaporated. Fast-forward to late 2025 and the headlines look very different. Ghana has: Completed the restructuring of its Eurobonds (around $13 billion) in October 202
