Ghana’s Economic Recovery Offers Model for African Debt Markets

Ghana has moved from a severe economic crisis to a recovery path that the Bank of Ghana’s Governor, Dr Johnson Asiama, presented as a template for the continent. Speaking at the Bank for International Settlements roundtable of African central‑bank governors in Basel on 27 June 2026, he stressed that “Ghana’s economic journey from crisis to recovery offers important lessons on the growing role of domestic debt markets in strengthening resilience while safeguarding financial stability.”

The governor argued that stronger domestic debt markets reduce reliance on costly external borrowing, improve liquidity, and support fiscal financing of development projects. He called for deeper, more diversified capital markets across Africa to enhance economic stability and reduce vulnerability to global shocks.