Ghana has re-entered the domestic bond market for the first time since its 2022 debt default and restructuring, launching a seven-year cedi-denominated treasury bond in a closely watched test of investor confidence as the government seeks to support its 2026 budget and gradually rebuild its local yield curve.
Bidding for the bond closed on April 1, with settlement scheduled for April 7, marking a significant step in the country’s effort to normalize funding conditions after a prolonged absence from the longer-dated domestic debt market.
The issuance is being seen by market participants not simply as a standalone financing exercise, but as part of a broader strategy by the government to move away from heavy dependence on short-term…